Golds’ Inverse Head and Shoulders Pattern

November 18, 2009 · Posted in Head and Shoulders · 2 Comments 

Here is Inverse Head and Shoulders’ pattern formation in Gold weekly chart. Late October, Gold broke out of the Neckline (1067) after forming an Inv. H&S Pattern. The distance between the head and the lowest trough in Inv. H&S pattern is about $250. Adding this depth to the breakout level (1067) yields $1316.