dookvik

Gold - support at 2020 - Bullish Head and Shoulders Pattern

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Support found around 2020-2024 area, printing head and should pattern on daily chart. Upward trend line drawn on daily charts, bullish pattern observed over the last 3 months, Fed rate-cuts to start pricing around 3rd week of February - only hindsight will be the tight labor market conditions which is expected to cool down. If otherwise, upward tend will reverse and price will go test the daily 100 MA. Other conditions such geopolitical situation, last few months before US election, all geared to push gold to higher levels
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.