Gold Bulls Dominate Despite Drop, Uptrend Confirmed by Reverse Head-and-Shoulders Pattern

Gold Trader Team

7/23/20241 min read

Despite a significant drop in gold prices, a new all-time high was reached last week, confirming that the bulls are in control. On the H1 timeframe, a reverse Head-and-Shoulders pattern is expected to form, confirming the uptrend as the price is currently in the support area.

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Gold Bulls Dominate Despite Drop, Uptrend Confirmed by Reverse Head-and-Shoulders Pattern

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CFDs and Spot FX are complex instruments and come with high risk of losing money rapidly due to leverage and may not be suitable for all kind of traders or investors.

Most of traders or investors accounts lose money when trading CFDs and Forex. You should consider whether you understand how CFDs and Forex work and can afford the high risk of losing your money.

All information that we share in this gold-trader.net website isn't intended as investment advise. The information is based on historical performance or data and the final decision to trade is yours. Please keep in mind that past performance or data may not be indicative of future results.

Trade or invest with the money that you can afford to lose. We’re not responsible for any possible outcome that might occurred.