Do you think the Gold's reverse HS will breakout.
It will be an interesting week for XAUUSD.
1. **Key Level 2330**: This level is crucial as it could initiate a chain reaction. A break here would confirm a double bottom "W".
2. **Possible Breakout**: Gold has been in a downward channel since May 20th. A breakout above the blue line would complete the Reverse Head and Shoulders formation at TP level 2365.
Technically, it’s structured for a move to 2365. However, with significant economic news this week, including the Fed Chair's speech on Tuesday, caution is advised.
1. **Key Level 2330**: This level is crucial as it could initiate a chain reaction. A break here would confirm a double bottom "W".
2. **Possible Breakout**: Gold has been in a downward channel since May 20th. A breakout above the blue line would complete the Reverse Head and Shoulders formation at TP level 2365.
Technically, it’s structured for a move to 2365. However, with significant economic news this week, including the Fed Chair's speech on Tuesday, caution is advised.
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