Price Broke down the trend line and done the correction wave
Possibly new H4 trend. 50% confirmed by 1 new higher low and 1 higer high. Higher high currently sitting above trend line.
Finally, gold price closed above bullish pennant trendline. Target price by my calculation is around 1801-1807 (Target by pennant pattern and Fibonacci retracement level 161.8%). Be aware of deep secondary reaction at H1.
Inverted head and shoulders formed at H4 chart. Possibly ended the correction wave after strong bullish.
