Gold prices could test 1185 on H1 IHS pattern
The daily chart for gold closed in a doji yesterday and this could signal a near term pullback in the declines. The 1-hour chart shows a potential inverted head and shoulders pattern in the making with the right shoulder yet to be formed.
Expecting a reversal near 1170 - 1167.50 region. If this happens, gold could then rise back to the neckline at 1175 followed by a push to 1185 - 1187.50 to complete the head and shoulders pattern.
Expecting a reversal near 1170 - 1167.50 region. If this happens, gold could then rise back to the neckline at 1175 followed by a push to 1185 - 1187.50 to complete the head and shoulders pattern.
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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.