XAU/USD – Bearish Setup Unfolding Head Shoulders Pattern in play

24 Nis

GOLD has been showing signs of exhaustion after a strong bullish run and now we might be witnessing a textbook Head & Shoulders reversal pattern forming on the 30-minute chart
What’s Happening
Trendline broken Momentum has shifted with a clear break below the ascending trendline
BOS (Break of Structure) and CHOCH (Change of Character) signals suggest a potential change in market sentiment
Left Shoulder Head Right Shoulder A clean H&S pattern is forming with price now possibly completing the right shoulder

Watch These Levels
Resistance Around 3356 – 3318
Bearish targets 3288 3259 and deeper into 3218 and 3193 support zones if the neckline breaks

What to Expect
We could see a short-term rally to complete the right shoulder before a potential breakdown If price breaks and retests the neckline it could open the door for a deeper move south
Keep an eye on price action around these key levels for confirmation As always stay sharp and manage your risk

25 Nis

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