Gold ($XAUUSD) is forming Head & Shoulders pattern on the hourly chart with 1820 as the H&S support. Break of 1820 can lead to a breakdown in the Gold price.
with a close above 1850 gold has started showing signs of a bull trend. For confirmation of this trend, it has to close above the bearish trend line at 1865. This will set it up for a TP of 1881/1915 in the short term.
Hello all
Gold is very good trand and this time daily chart is on bullish zone so my idea is buy gold at 1876 and hold around 1900
1920
1950
And top is 2000$
So buy gold bullish
Price forming a channel pattern and as discussed in the previous analysis, price has no room to move further as it was squeezed to its maximum limits was expected a break and it breaks down strong.
One can expect a small retest of the breakout levels and expect the price to move further down to the channel as per the pattern. Keep an eye on the support levels....
