Thursday, 2 April 2015

Is Gold building a bullish inverse Head and Shoulders bottom with measured target around 1300?

Is Gold building a bullish inverse Head and Shoulders bottom? Just an idea for now. Market needs to beat 1220/1224 to trigger an entry based on the pattern, offering a measured target around 1300. Given the larger degree down trend, which I illustrated in last weekend's weekly and monthly charts, 1300 may be an ambitious target, and I'd be surprised to see it beaten, before the market ultimately heads well below 1100 later in the year. All that is crystal ball stuff for now, trade what is on your screen at your chosen time frame.