XAU/USD - Long term - Head & Shoulders Bottom

Long

Gold Spot / U.S. Dollar (FX_IDC:XAUUSD)

Updated

FX_IDC:XAUUSD Gold Spot / U.S. Dollar

trendanalysis indicator harmonicpatterns gold xau xauusd goldusd goldlong dollar economy

Not 100% smooth H/S pattern but still something to consider

Comment:

1380 neckline will be crucial. If broken, a multi year rally is due to follow. Also the volume of contracts bought in August was greater than ever at 6.55 million -> 900 some billion dollars, 9 times the production amount in physical gold for the entire year!!!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.