A sudden breach of the previous record high sparked a significant uptrend in the price of Gold last week, pushing it to a crucial resistance level at 2600.
Following a test of this level, the market began to consolidate and formed a head and shoulders pattern on the hourly chart.
A break below the neckline of this pattern will be a strong bearish indicator, suggesting a potential retracement from the resistance.
To short with confirmation, wait for a breakout of the neckline/support of the range. Targets for this retracement are set at 2569 and 2564.
Following a test of this level, the market began to consolidate and formed a head and shoulders pattern on the hourly chart.
A break below the neckline of this pattern will be a strong bearish indicator, suggesting a potential retracement from the resistance.
To short with confirmation, wait for a breakout of the neckline/support of the range. Targets for this retracement are set at 2569 and 2564.
Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。