GOLD HAS FORMED HEAD N SHOULDER, HOWEVER A BREAK AND CLOSE ABOVE 1295 WILL INVALIDATE THIS SETUP.
LS=1263, HEAD= 1295, RS=1274.
H/S TO REMAIN VALID IT HAS 1ST TO BREAK BELOW 1245(RIGHT MID SHOULDER) AND 1215(RIGHT LOW SHOULDER).
BREAK BELOW 1195(LEFT SHOULDER LOW) WILL VALIDATE H/S AND LOWER PRICES.
PRICE TARGETS ON BREAK AND CLOSE BELOW 1195= 1140-1120.
LS=1263, HEAD= 1295, RS=1274.
H/S TO REMAIN VALID IT HAS 1ST TO BREAK BELOW 1245(RIGHT MID SHOULDER) AND 1215(RIGHT LOW SHOULDER).
BREAK BELOW 1195(LEFT SHOULDER LOW) WILL VALIDATE H/S AND LOWER PRICES.
PRICE TARGETS ON BREAK AND CLOSE BELOW 1195= 1140-1120.
Note
H/S has been invalidated above 1275, price break above 1295 then upside price targets 1305-1325 in the short term.Note
Price can also extend to 162*XA= 1345(CRAB).
Note
Gold a double top or false breakout at 1295/1296.Currently at 382 support from 1214-1296, break below 1265 then 1245 next support level break below 1245 then 1214 retest probable. IF 1265 holds support and close above 1275-80(trendline) then higher price zones 1320-1345.
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.
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.