Gold recently broke the support but could not manage to hold below it, thereby retracing to 1920.
The price is in the process of forming an inverted head and shoulder.
A daily close below 1890 will invalidate the inverted h&s and open the way for bears to attack 1848.
Alternatively, should 1890 hold and the price breaks above 1910 we could see a rally towards 1945.
It's recommended to wait for confirmation before opening orders in either direction.
The price is in the process of forming an inverted head and shoulder.
A daily close below 1890 will invalidate the inverted h&s and open the way for bears to attack 1848.
Alternatively, should 1890 hold and the price breaks above 1910 we could see a rally towards 1945.
It's recommended to wait for confirmation before opening orders in either direction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.