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Gold – Multiple Inv. Head and Shoulder breakout on weekly

FX_IDC:XAUUSD   GOLD / US DOLLAR
Gold             weekly chart shows a bullish break from two inverse head and shoulder formations after Brexit vote followed by a rise to $1375 and a drop to inverse head and shoulder neckline support followed by a rebound of the same and a break above $1358 (61.8% Fibo extension).

The entire price action suggests we are heading towards $1400 handle by next month or so.
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The bullish view goes down well with the fact that August is usually a bad month for risk asset.
forged
4 months ago
True, I just realise that.
Reply
pmcllc PRO
4 months ago
Institutional bettors are not allowing Gold to correct itself with asset rotation
Reply
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