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JayanVarsani

GOLD - INVERSE H&S PATTERN | 200MA / 61.8% FIBONACCI RETRACEMENT

Long
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
JayanVarsani  
TVC:GOLD   CFDs on Gold (US$ / OZ)
Trend Analysis Chart Patterns Technical Indicators Gold Silver Oil S&P 500 (SPX500) DXY dollar Forex fx GBPUSD
11
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trendanalysis chartpattern indicator gold silver oil spx500 dxy dollar forex fx gbpusd
  • Gold forming an inverse head and shoulders pattern on the daily timeframe
  • Price has touched the 200DMA and tested it yet again indicating a bounce
  • 61.8% Fibonacci retracement has been touched indicating the potential end of the recent downturn
  • Price expected to bounce and reverse higher in another attempt at breaking the 2020 ATH
  • Long positions will be stacked and added upon successful breakout and retest of the neck-line
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