GOLD HEAD N SHOULDERS FORMATION
Updated
GOLD HAS FORMED HEAD N SHOULDER, HOWEVER A BREAK AND CLOSE ABOVE 1295 WILL INVALIDATE THIS SETUP.
LS=1263, HEAD= 1295, RS=1274.
H/S TO REMAIN VALID IT HAS 1ST TO BREAK BELOW 1245(RIGHT MID SHOULDER) AND 1215(RIGHT LOW SHOULDER).
BREAK BELOW 1195(LEFT SHOULDER LOW) WILL VALIDATE H/S AND LOWER PRICES.
PRICE TARGETS ON BREAK AND CLOSE BELOW 1195= 1140-1120.
LS=1263, HEAD= 1295, RS=1274.
H/S TO REMAIN VALID IT HAS 1ST TO BREAK BELOW 1245(RIGHT MID SHOULDER) AND 1215(RIGHT LOW SHOULDER).
BREAK BELOW 1195(LEFT SHOULDER LOW) WILL VALIDATE H/S AND LOWER PRICES.
PRICE TARGETS ON BREAK AND CLOSE BELOW 1195= 1140-1120.
Note
H/S has been invalidated above 1275, price break above 1295 then upside price targets 1305-1325 in the short term.Note
Price can also extend to 162*XA= 1345(CRAB).
Note
Gold a double top or false breakout at 1295/1296.Currently at 382 support from 1214-1296, break below 1265 then 1245 next support level break below 1245 then 1214 retest probable. IF 1265 holds support and close above 1275-80(trendline) then higher price zones 1320-1345.
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