Looking at the head formation of head and shoulders above, GU ultimately will have sharp drop.
Channel high supply zone communicates strong rejection on supply
2months ago drawn analysis as on idea chart. Seemingly it playout as anticipated. Lesson to take home:
-trendlines on high time frames price seem to react better .
-candlesticks engulf patterns on monthly actually played role of EU fall
Gold likely to bounce between 1916 and 1934.
Given previous patterns , our previous monthly candle made a clear bearish engulf. We are yet to see bears confirming below monthly low
