Clear head and shoulders pattern indicating to me that the gold price will head lower with a target of $1225/oz which corresponds nicely with the medium term support line. Then onwards and upwards from there later in the year.
Taking momentum into account and change of obvious market structure it only makes sense for my analysis to be bearish.
Ever heard of the phrase, trade with the trend? yup you should really use that phrase to your advantage.
1.Momentum is down so im looking for a break of support zone.
2.Preferably a close below the support on the daily but if i get 4hr...