As can be seen in the graph, Gold seems to form an upside-down Shoulder-Head-Shoulders formation over a very wide time interval. In such a case, if the $ 1670 levels, which it has been recently supported, will form the Right Shoulder, we can see the first target of $ 2180 and then the target will be $ 3000 because of the formation target.
However, as a counter to the above scenario, prices must first break the downward trend, if not, we can see a retracement to one of the strongest horizontal resistances of $ 1400.
It contains only personal views and opinions. Does not contain legal investment advice ...
However, as a counter to the above scenario, prices must first break the downward trend, if not, we can see a retracement to one of the strongest horizontal resistances of $ 1400.
It contains only personal views and opinions. Does not contain legal investment advice ...