Gold: Head & Shoulders Completion at Key Resistance

Price broke below the neckline of a head & shoulders pattern signaling a new dowtrend. For those who missed the breakout the better option is to wait as most likely price will retraceto previous structure before selling off. In such case looking for shorts is a nice idea.

This pattern has completed at long-term resistance level - the sliding parallel of a valid slope median line set better seen in the weekly chart.