Gold Head and Shoulders Formation in Progress

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Updated: Jul 24, 2018, 12:13 UTC

The Gold is forming a potential Head and Shoulders pattern close to D H4 support. The pattern will become valid if the price rejects from the

The Gold is forming a potential Head and Shoulders pattern close to D H4 support. The pattern will become valid if the price rejects from the 1227.90-1231.45 zone. In that case, sellers will resume control and the price should reach 1220.89. If the price breaks 1217.30 to the downside, the way to 1211.58 will be open.

Gold Head and Shoulders Formation in Progress

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect the price to react aka entry zone)

Best wishes,

Nenad

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