Gold and the Reverse Head & Shoulders: What Happens Next?
A Reverse or Inverse Head and Shoulders pattern signals a bullish trend reversal, indicating that a downward market trend will likely reverse upon pattern confirmation.
The Inverse Head & Shoulders chart pattern is a pattern with three consecutive lows where second low is slightly lower than the first & third low which signals the downward gold trend is losing momentum and if price of the gold instrument rises above the resistance area which is the two highs between the 3 lows then the Inverse Head & Shoulders pattern is considered confirmed & the price of the gold instrument changes into a bullish trend.
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