Recently, Gold has been trading sideways at the price of $1,222.00. According to the H4 time – frame, I have found potential head and shoulders pattern in progress, which is a sign that buying at this stage looks risky. My advice is to watch for potential selling opportunities if you see a breakout of the neckline ($1,220.00). The projected target is set at the price of $1,207.00, which is also a previous swing high zone (support).
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