Gold’s 4-hour chart shows an inverse head-and-shoulders pattern. A breakout would open the doors to a re-test of Nov. 9 highs. Gold is currently trading near a key hurdle, which, if breached, could bring a stronger rally. The yellow metal is flirting with resistance at $1,866 – the neckline of the inverse head-and-shoulders pattern. Acceptance above would confirm a breakout or bearish-to-bullish trend change and create room for a rally to $1,966 (target as per the measured move method). On the way higher, the metal may face resistance at $1,900. A strong rejection at the neckline hurdle would shift risk in favor of a drop to $1,820 (4-hour chart support). Fundamental factors such as the Federal Reserve’s bond purchases, the record global stockpile of negative-yielding bonds, and weak dollar support the bullish case. 4-hour chart Trend: Bullish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD Price Analysis: Teases inverse head-and-shoulders on 1H amid upbeat fundamentals FX Street 2 years Gold's 4-hour chart shows an inverse head-and-shoulders pattern. A breakout would open the doors to a re-test of Nov. 9 highs. Gold is currently trading near a key hurdle, which, if breached, could bring a stronger rally. The yellow metal is flirting with resistance at $1,866 - the neckline of the inverse head-and-shoulders pattern. Acceptance above would confirm a breakout or bearish-to-bullish trend change and create room for a rally to $1,966 (target as per the measured move method). On the way higher, the metal may face resistance at $1,900. A strong rejection at the neckline hurdle would shift risk in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
