GOLD Inverted SHS Pattern for Bullish Continuation
GOLD Technical Analysis
- GOLD is mostly ranging
- We can clearly see the inv. SHS pattern
- The break of the trend line is bullish
- The target is 1808 on a breakout
H4 CHART GOLD
- Left Shoulder Low
- The Head
- The Right Shoulder Low
- The breakout point
- The target
The price is currently supported. We can see lots of buying pressure from the W L3 support. Candlesticks are bullish and imply a possible breakout. The trend line acts as a resistance and breakout point. The break of the trend line and the market will go higher. Targets are 1775 W H3 camarilla pivot, followed by 1787 and 1808. 1808 is the W H5 camarilla pivot and it’s the previous zone where we can see selling pressure.