Gold Spot is heading towards the resistance line of a Inverse Head and Shoulders and could reach this point within the next 5 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Because Gold Spot formed a Inverse Head and Shoulders pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher
