As you see in the chart, there is a sharp downtrend which is in a very slow bullish correction phase in the form of a reversal head and shoulders pattern.
The neckline is between daily (1793) and weekly low (1789) and if it broken out to the downside, we can expect a fall at least as the same size as the pattern’s head (1750).
Generally, I’m on the bearish side for XAUUSD. What about you?
Feel free to share your ideas in the comments.
The neckline is between daily (1793) and weekly low (1789) and if it broken out to the downside, we can expect a fall at least as the same size as the pattern’s head (1750).
Generally, I’m on the bearish side for XAUUSD. What about you?
Feel free to share your ideas in the comments.
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