Gold is at a Crossroad - Bull or bear is possible

Gold has retreated from a recent bull run, forming a bull pennant. Two scenarios are possible from this price action
1. Upwards break of the pennant, confirm cup and handle pattern and extension to 2100 or more
2. Downwards break of the pennant, confirming head and shoulders pattern and extension to 1910 or lower

A good time to wait out of the market and see which way it plays.
Chart PatternsGoldTrend Analysis

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