Gold is forming a Head and Shoulders pattern on the 4H timeframe, which is turning bearish (RSI = 44.053, MACD = 0.190, ADX = 23.859) as the price can't stay over the 4H MA50, which has turned flat.
If the price closes under the neckline of the pattern, we will short and target the 2.0 Fibonacci extension (TP = 1,935.50), which is slightly over the 4H MA200.
See how well our prior idea has worked:
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If the price closes under the neckline of the pattern, we will short and target the 2.0 Fibonacci extension (TP = 1,935.50), which is slightly over the 4H MA200.
See how well our prior idea has worked:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial