GOLDTREND-NET

Potential Head & Shoulders - Trigger depends on G20 Meeting

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold has made a potential head & shoulders pattern on 1-hour chart. This pattern will be triggered if gold tests neckline and breaks down under it. If gold breaks down, it can go down to support at 1355-1360.
However, the triggers action will be likely dependent on the results of G20 meeting where U.S and China will meet for negotiations of trade deal between 2 countries. If U.S and China come out of the meeting with some kind of a deal, gold will likely fall to test neckline. If there's no deal, gold can shoot up to clear the recent top at 1439 and thus this pattern will be invalid.

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