FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
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There is a pennant formation on the 4-hour chart.
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Comment:
On the 4-hour chart, the price is retesting the top line of the pennant.
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TP1 ✓
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Comment:
Will the price move towards $2070 to form an inverted head-and-shoulders pattern on the weekly chart (2020-2024 range)?
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The reverse head and shoulders formation usually occurs at the bottom and is a reversal formation.
This formation rarely works at the top.
We will follow and see. It is useful to follow it with the trailing stop level.
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Comment:
1965-1975 range is important for the pullback.
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