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CFDs on Gold (US$ / OZ)
Long

GOLD - INVERSE H&S PATTERN | 200MA / 61.8% FIBONACCI RETRACEMENT

By JayanVarsani
  • Gold forming an inverse head and shoulders pattern on the daily timeframe
  • Price has touched the 200DMA and tested it yet again indicating a bounce
  • 61.8% Fibonacci retracement has been touched indicating the potential end of the recent downturn
  • Price expected to bounce and reverse higher in another attempt at breaking the 2020 ATH
  • Long positions will be stacked and added upon successful breakout and retest of the neck-line
Chart PatternsdollarDXYForexfxGBPUSDGoldTechnical IndicatorsOilSilverS&P 500 (SPX500)Trend Analysis
JayanVarsani
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