In addition to today's bullish move, PoG closed the day above the 10 EMA, this is the first step toward reversing a MT bearish alignment of the 3EMA/10EMA/20DMA ribbon.
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Tuesday, July 5, 2011
Gold - Potential Bullish Inverse Head and Shoulder Pattern
There is a potential for a bullish Inverse Head and Shoulder (iHnS) pattern that may play out on the short term. Look for a corrective 3 wave pattern down as a right shoulder. This Bullish pattern in invalidated with any move below critical support at 1478. Many long positions could be washed out with such a move below this support important support.
In addition to today's bullish move, PoG closed the day above the 10 EMA, this is the first step toward reversing a MT bearish alignment of the 3EMA/10EMA/20DMA ribbon.
...
In addition to today's bullish move, PoG closed the day above the 10 EMA, this is the first step toward reversing a MT bearish alignment of the 3EMA/10EMA/20DMA ribbon.
...
