Gold formed head and shoulders pattern on H4 and have broken the neckline and back again
gold is ranging now at the right shoulder between support of 1969 and 2011-2014
depending on the news coming yesterday from usa about first republic bank we cannot confirm yet the next move
whats my expctation :
SMA 200 is making resistance now at 2000$
it may visit 2011-2014 before a big drop considering breaking the h&s pattern on h4 check chart
next waiting 1969 to be broken to target 1920
for now technically i dont see more bullish waves
you may trade between the ranges above or wait to break 1969 for a big move
gold is ranging now at the right shoulder between support of 1969 and 2011-2014
depending on the news coming yesterday from usa about first republic bank we cannot confirm yet the next move
whats my expctation :
SMA 200 is making resistance now at 2000$
it may visit 2011-2014 before a big drop considering breaking the h&s pattern on h4 check chart
next waiting 1969 to be broken to target 1920
for now technically i dont see more bullish waves
you may trade between the ranges above or wait to break 1969 for a big move
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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.