GOLD - INVERSE H&S PATTERN | 200MA / 61.8% FIBONACCI RETRACEMENT

8. Jan. 2021

• Gold forming an inverse head and shoulders pattern on the daily timeframe
  
• Price has touched the 200DMA and tested it yet again indicating a bounce
  
• 61.8% Fibonacci retracement has been touched indicating the potential end of the recent downturn
  
• Price expected to bounce and reverse higher in another attempt at breaking the 2020 ATH
  
• Long positions will be stacked and added upon successful breakout and retest of the neck-line