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.
