Gold has formed a Inverse Head & Shoulder Pattern which is bullish Reversal Pattern.
Convincing Break & couple of close above $976 can target previous high.
Only catch is this pattern is genrally formed at the bottom after a lengthy down fall, yet in this case it has been formed almost near the previous top. This makes the success of the pattern a doubtful case.
Time Knows the truth. :-)
Regular Disclaimer & Disclosure to be read, mentioned elsewhere on this blog.
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