LEARN HOW INVERSE HEAD AND SHOULDER GIVE BULLISH SIGNAL

An inverse head and shoulders pattern is comprised of three component parts: After long bearish trends, the price falls to a trough and subsequently rises to form a peak. The price falls for the third time, but only to the level of the first trough, before rising once more and reversing the trend.

We have explained the current situation in our technical analysis . Amid Dovish Fed's view on world economy and recovery, we expect Gold to remain bullish and continue its streak to $2300 levels by the end of the year. As we discussed earlier, "The trend remains strongly bullish , 2000 could be achieved this week. It was a day full of volatility , Gold reaching 1981, then lost all gains to 1900 then again reaching the 1950 level. Don't enter any trade-in retracement phase. Pullbacks and support zones are an entry point".