Initially declining, gold afterwards rose from a support level. The inverted head-and-shoulders pattern suggests that the market may retest the resistance in 1950 if this candlestick, the second long-tail candlestick, can break above both of those candlesticks. a Pinbar
I believe that since this signal is often a very positive one, the bulls do not want the price to fall below 1900. A further driver for the bulls may be the widespread uncertainty surrounding the world economy.
The likelihood of the following week being upbeat is higher than I believe. The route to the 1800 level will be open, which is obviously a round, if the market fails to breakdown and declines further.
I believe that since this signal is often a very positive one, the bulls do not want the price to fall below 1900. A further driver for the bulls may be the widespread uncertainty surrounding the world economy.
The likelihood of the following week being upbeat is higher than I believe. The route to the 1800 level will be open, which is obviously a round, if the market fails to breakdown and declines further.