Possible Head and Shoulders for Gold
Burc Oran
December 14, 2020
technical analysis article on xauusd
XAUUSD Hourly Chart
XAUUSD Hourly Chart

Gold has formed a head and shoulders formation above the 1820-1825 neckline. If this support zone breaks to the downside, bearish pressures may increase in the short-term. Formation’s target is near the last bottom, 1765, but the 1800 level is powerful support before that.

If XAUUSD can’t break the 1820-1825 zone and move past over 1850 the formation and the target price become nulled.

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