Measured move of the Inverted H+S would place the Gold price at $1,900/ ounce, this would be within spitting distance of all-time-highs
Inverted H+S
Should this pattern resolve, I would expect that this price move would bring substantial media attention, as this would mark the first time since 2011 that Gold would have traded at these levels.
There is little technical resistance once $1,800 is cleared
This would obviously translate to increased demand, particularly from momentum traders.
This would logically conclude with higher Gold prices moving forward.
-TradingEdge
Inverted H+S
Should this pattern resolve, I would expect that this price move would bring substantial media attention, as this would mark the first time since 2011 that Gold would have traded at these levels.
There is little technical resistance once $1,800 is cleared
This would obviously translate to increased demand, particularly from momentum traders.
This would logically conclude with higher Gold prices moving forward.
-TradingEdge
Note
Inverse H+S pattern has been invalidated, that being said, Gold is looking good on a pullback so this presents quite a nice accumulation opportunity.
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For more analysis, consider joining our telegram group for trade updates and ongoing opportunities, link in my profile.
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.