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.