GOLDTREND-NET

Head & Shoulders Pattern on 1-hour chart

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold is forming a head & shoulders pattern on the 1-hour chart. Gold can go down to test major support at 1381-1385 if gold breaks down under neckline and support at 1401-1404. Otherwise if gold manages to hold above neckline and support at 1401-1404, gold can rebound to test upper resistance at 1423-1427.

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Comments

So it will either go up or down? Amazing insight there, you have my respect!
+1 Reply
GOLDTREND-NET Leejohn1974
@Leejohn1974, thanks for comment. The key support is 1401-1404. As long as it holds, gold can go up. If not, the h&s pattern might be effective
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Leejohn1974 GOLDTREND-NET
@GOLDTREND-NET, happy hunting!
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Amazing! Leave us a follow aswell mate :)
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