Courtesy of Chris Kimble
Gold could be forming the "right shoulder" in a bearish head & shoulders pattern. The trend is up, so the odds don’t favor this read, yet it does remain a potential.
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Not only could Gold be creating a right shoulder, it is testing the underside of resistance, that used to be support at (1).
GAME PLAN…Aggressive traders should start building a position at (1), using DZZ. This is for AGGRESSIVE INVESTORS only and if purchased, a tight stop of just 3% should be put in place! I am ok with being wrong on a position, not ok with being wrong for long!
Originally published at Chris Kimble’s blog, Gold…Potential bearish pattern at hand?
