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Prasad_Ari

Gold: Head & Shoulder Pattern?? Heading towards $1900 or $1790

Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
Prasad_Ari Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators XAUUSD goldtrading Gold goldusd
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trendanalysis chartpattern indicator xauusd goldtrading gold goldusd
Bullish scenario: Gold appears to be forming Reverse Head & Shoulder Pattern in the 4hr Chart, if it confirms Gold might break out to $1900+
Bearish Scenario: Gold is currently trading between 200DMA & 50DMA. Today it bounced off from 200DMA ($1821) , If it break downwards it might retest the November 2020 low $1790
Comment:
Gold has broken below 200DMA($1821) level.. $1800'ish is a strong support area!! It's trying to pick the direction, bounce back from this level OR After retesting the Late November low $1764.. 🤞
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