GOLD Technical Analysis

• GOLD has hit the essential support
• The price needs further bullish momentum
• Possible retest of 1785 zone
• Inverted Head and Shoulders pattern

DAILY CHART GOLD

1. The left shoulder
2. The head
3. The right shoulder
4. Price breaking last day’s close

The price is currently bouncing from the zone. We should be seeing M LO3 hit which is 1775. However, if bullish momentum persists before the FED this week we might be seeing even stronger move up. However, from the TA point of view, we are in the buying zone. We might have a bit of momentum push before the price moves up, however if 1740 holds we should go higher. Watch for The first resistance if the price breaks M L3 camarilla pivot to the upside.