The Soon To Be Prophecy of XAUUSD-GOLD
We can see a Tweezer Top was formed on the 30min chart which caused a slide to the downside. Therefore GOLD is forming a HEAD-AND-SHOULDERS. We need to get a close above the 50% FIB Extension for not that right shoulder to be created to continue back up. Because it seems like at that 50%(1985.89) has become a resistance level. If it keeps rejecting that 50% FIB level most likely the Head and Shoulders would be valid. Then we can see a potential down side to the bottom...Trade well traders and have a upcoming bless trading week.
Think Like The Market
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.