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Possible Head and Shoulders for Gold

December 14, 2020
in DAILY UPDATES, Home, Spot Metals
Reading Time: 1min read
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technical analysis article on xauusd
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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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    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

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