Gold SHS Pattern Should Bring The Price Lower

Gold lost its bullish momentum on Friday. We should see a drop in the price.

The price has formed the SHS pattern at the top. We might see another push lower as bears are tanking it. The support is 1800 and we could see another move down below. The crucial thing for bears is a close below 1795. 1784 is next then. I myself am bearish for the day and will keep my shorts.

(Click on image to enlarge)

 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.