Gold: Head & Shoulder Pattern?? Heading towards $1900 or $1790
Updated
Bullish scenario: Gold appears to be forming Reverse Head & Shoulder Pattern in the 4hr Chart, if it confirms Gold might break out to $1900+
Bearish Scenario: Gold is currently trading between 200DMA & 50DMA. Today it bounced off from 200DMA ($1821) , If it break downwards it might retest the November 2020 low $1790
Bearish Scenario: Gold is currently trading between 200DMA & 50DMA. Today it bounced off from 200DMA ($1821) , If it break downwards it might retest the November 2020 low $1790
Note
Gold has broken below 200DMA($1821) level.. $1800'ish is a strong support area!! It's trying to pick the direction, bounce back from this level OR After retesting the Late November low $1764.. 🤞
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