GOLD (XAUUSD): Very Bearish Setup Explained
Gold formed a head and shoulders pattern on the hourly chart, featuring a descending triangle as the right shoulder.
Both patterns had a common neckline, which was breached during the Asian session when an hourly candle closed below it.
This suggests a possible price decline, with targets projected at 2636 and 2624.
Both patterns had a common neckline, which was breached during the Asian session when an hourly candle closed below it.
This suggests a possible price decline, with targets projected at 2636 and 2624.
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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.