XAUUSD (GOLD) - POTENTIAL BUY ENTRY

ANALYSIS 🔎
- XAUUSD brokeout above the descending trendline resistance.
- Price retraced and retested the descending trendline resistance.
- Price action is printing the inverse head and shoulders pattern.
- This is a trend reversal pattern.
- A bullish pattern to be precise.
- RSI Is also printing a bullish divergence signal.
- Price is testing the neckline resistance.
- There's an upward breakout potential.

BUY ENTRY ⬆️
- Breakout above the inverse head and shoulders neckline resistance.

TARGETS 🎯
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Breakdown below the right shoulder support level.