GOLD (XAUUSD): Technical Outlook & Things to Watch Next Week 🥇

9 ก.ค. 2023

https://www.tradingview.com/x/qamacnsP/

After the test of a major horizontal daily demand cluster, sellers look weak on Gold.
Analyzing the price action for the last 3 weeks, I spotted a completed inverted head & shoulders pattern.

1925 - 1941 is the neckline of the pattern.
Bullish reversal will be confirmed once a daily candle closes above that.
A bullish continuation will be expected then to 1957.

Remember, that at the moment the neckline constitutes a solid resistance,
so I strictly do not recommend buying now.

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