Gold has reached the top of the shoulder at $1375. If gold can break out above here it will signal a move to much higher prices. If Gold cannot the head & shoulders will be completed and the likely downside target will be distance from the head to the neckline, or $100 from $1320 or roughly $1220, which coincides nicely with the 200 day MA at $1222 and the 50 week MA at $1206.
Personally, I think Gold moves higher from here. But in case it doesn't, it's best to have a downside target in mind.
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