- The Head & Shoulder pattern was invalidated due to selloff on US markets and pushed GOLD prices higher
- In my previous analysis, I did mentioned that GOLD is still bullish on long term although it had invalidated the H&S pattern
- Lets see whether GOLD can break the 1520 area or follow the trend channel and retrace to around 1440
Scenario A: Bullish Flag pattern if manage to breakout from the trend channel
Scenario B: Follow the trend channel if it retrace when it reach 1520 zone
Have some patience and wait for it to tell you the direction
- In my previous analysis, I did mentioned that GOLD is still bullish on long term although it had invalidated the H&S pattern
- Lets see whether GOLD can break the 1520 area or follow the trend channel and retrace to around 1440
Scenario A: Bullish Flag pattern if manage to breakout from the trend channel
Scenario B: Follow the trend channel if it retrace when it reach 1520 zone
Have some patience and wait for it to tell you the direction
