Gold has been in the uptrend the whole week. The price has formed an inverted SHS pattern where we could see the buyers breaking out.
GOLD Technical Analysis
Bullish trend but resistance is reached
The price has reached historical sellers
Selling zone
Retracement is possible
Left shoulder
Head
Right shoulder
Historical sellers
Now moment sellers
Gold has been in the uptrend the whole week. The price has formed an inverted SHS pattern where we could see the buyers breaking out. However, historical sellers are there, waiting in ambush. GOLD is trying to push higher but it fails at resistance. 1870 is the zone which could see the price moving down if the bulls fail to make a breakout. The inverted shoulder head shoulder pattern is still intact and the longer the price is failing to break the top, the easier it will be for sellers to reject the price lower.
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