GOLD: Potential Bearish Head and Shoulders Pattern
GOLD recently peaked at 3057 after breaking through the significant 3000 zone. The 3000 level garnered substantial market attention as a strong psychological area, but high trading volumes occasionally drive prices higher, as seen in this case.
Currently, the price appears to be losing momentum, forming a potential bearish Head and Shoulders pattern. If GOLD manages to break below the neckline of this pattern near 3025, it could signal further declines. The target levels to watch are 3005, 2993, and 2980.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
GOLD recently peaked at 3057 after breaking through the significant 3000 zone. The 3000 level garnered substantial market attention as a strong psychological area, but high trading volumes occasionally drive prices higher, as seen in this case.
Currently, the price appears to be losing momentum, forming a potential bearish Head and Shoulders pattern. If GOLD manages to break below the neckline of this pattern near 3025, it could signal further declines. The target levels to watch are 3005, 2993, and 2980.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
Note
Trade closed: target reached
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t.me/KlejdiCuni
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youtube.com/@TradingPuzzles
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.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.