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DeGRAM
Mar 25, 2024 9:35 AM

DeGRAM | GOLD potential head-and-shoulders pattern Short

GoldOANDA

Description

GOLD is retracing following the bullish momentum.

The market has rejected the resistance and bounced off it following divergence.

Price may create a head-and-shoulders pattern, which is a reversal pattern.

We expect the dynamic support to break and fall to a 50% retracement level.


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Comment


GOLD is testing the descending channel border.

It is consolidating after a retest of the support level and lower channel boundary.

The market is moving to resistance levels and dynamic resistance, where we have confluence to short the market.

We expect the price to pullback and retest the support level.
Comments
DeGRAM
Good luck in the markets and have a great trading week!
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