RLinda ! GOLD-> H&S formation stage. What to expect?

Gold is down 2.2% from its high. Technically, this is a reaction to a false breakout of strong resistance. What's next?

RLinda ! GOLD-> Is distribution over? A rebound after FB?


Yesterday I told you, there is a high probability of a technical pullback, the price goes down towards 1824, but it does not reach the zone, so the technical pullback forms and the price draws an interesting "Head & Shoulders" pattern, based on the false-break and the resistance. I think that if this pattern holds, the price can reach both 1824 and 1807 in the nearest future.

תמונת-בזק

The situation is tricky, if the price breaks 1843 and rallies above it, there is a chance of rising to 1858 and trying to break the resistance at 1858.
But if the right shoulder of the "Head & Shoulders" pattern confirms, if the price consolidates under 1843, there is a chance to go down to 1807

Regards R. Linda!
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