XAU/USD (H&S pattern): Possible Bearish Reversal Looms
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The 
XAUUSD chart reveals a prominent Head and Shoulders pattern, indicating a potential bearish reversal, with the neckline support at 2,335.104 being a critical level to watch. The Fair Value Gap (FVG) area suggests a consolidation zone where prices might stabilize before making a decisive move. Key support levels are at 2,292.751 and 2,167.877, with the latter aligning with the target price (TP). Resistance levels to monitor are 2,335.104, 2,354.449, and 2,412.402.
look for price action on this area for selling opportunity
XAUUSD chart reveals a prominent Head and Shoulders pattern, indicating a potential bearish reversal, with the neckline support at 2,335.104 being a critical level to watch. The Fair Value Gap (FVG) area suggests a consolidation zone where prices might stabilize before making a decisive move. Key support levels are at 2,292.751 and 2,167.877, with the latter aligning with the target price (TP). Resistance levels to monitor are 2,335.104, 2,354.449, and 2,412.402. look for price action on this area for selling opportunity
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Note
Note
Gold is currently trading at 2,375.67, and we are seeing a significant drop. The next support level is around 2,292.75, with FVG area that might offer some support. If the price breaks this level, we could see it testing the 2,250.00 mark.
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