GOLD - Inverse H + S Continuation pattern, Neckline @ 1510
- As shown in the chart gold appears to be printing an inverse H + S pattern
- Due to the previous bull rally before it this pattern would be classed as continuation rather than a reversal pattern
- Neckline of the pattern well defined at the 1510 resistance level
- For this pattern to be valid price would need to break and close above this resistance level
- IF price were to break below the low formed by the second right hand shoulder within the pattern, then it would be invalidated
- Due to the previous bull rally before it this pattern would be classed as continuation rather than a reversal pattern
- Neckline of the pattern well defined at the 1510 resistance level
- For this pattern to be valid price would need to break and close above this resistance level
- IF price were to break below the low formed by the second right hand shoulder within the pattern, then it would be invalidated