| Gold bulls got another shock last week (assuming they’re still watching the ‘golden anchor’). Gold has breached the neckline of a head-and-shoulders pattern which has been five months in the making. On the chart below, readers can see the left shoulder in July, the head in August, and the right shoulder in October.
Head-and-shoulders patterns are traditionally considered reversal patterns. To be considered bearish the pattern would be expected to appear at the end of a bull trend. That is not what happened here...............................................Full Article: Source
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