Gold completes the trading week near the area of 1795. The XAU / USD quotes continue to move as part of a slight rise and the formation of a “Head and Shoulders” reversal pattern. Moving averages indicate a bearish trend for Gold. Prices have broken the area between the signal lines upwards, which indicates pressure from buyers and a potential continuation of the price rise. At the moment, we should expect an attempt to develop a decline in prices and a test of the support level near the 1735 area. Further, the continued growth of the GOLD price with a potential target above the level of 2035.
Have a nice trade!
Have a nice trade!