Inverted head and shoulders pattern on 1 hr Gold chart

14 giu 2015

An inverted head and shoulders pattern is evident on a 1 hour chart. Neckline is at $1183.39, shoulders at $1181 and head at $1176-1177. RSI has been making higher lows on a weekly chart and daily chart. Daily RSI bottomed at 25.4 on 3/17/15 and at 36.5 on 6/5/15. Stochastic also indicates a buy on 1, 2, 3 and 4 hr chart. Aroon indicated a buy on 6/5 on a daily chart at $1171. I'm long GLD 113 call options that expire in July. Expect gold to rally this week, Long and strong? Good Luck.