Head Ans Shoulder Patter
and
Ema 200
Ema 50
Ema 20
Price Above Ema 200-50-20...Support To Upside
Trade Only Close Above Neckline
My Side Target 1327.27
Sl 1306.06....
Remember In Prayer
The gold chart is interestingly poised. There is a nice consolidation highlighted by the turquoise color box. Price has subsequently retested the top of this box and turned around. A move past $1,370 would be a good signal to buy yhe yellow metal.
The price action is been ranging in a rectangle consolidation where it is forming a Regular Flat Correction pattern that indicates completion of corrective phase and beginning of a new bullish move or trend. A good risk to reward setup.
Keep a Stoploss: 1290
Target 1: 1340
Target 2: 1375
