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January 6th, 2021: GLD 60-min Chart

Posted by pugsma on January 6, 2021

A potential bullish Inverse Head and Shoulders (IHS) pattern has formed on the Gold ETF GLD. The Head is at 166.03, the neckline is at 183.11 and the target is a new all-time high at 200.19. The right should appears to be setting up now that should hold above the left shoulder at 174.47. A break above the neckline at 183.11 will confirm the pattern.

GLD 60-min chart:

Gold Technical Analysis

3 Responses to “January 6th, 2021: GLD 60-min Chart”

  1. pugsma said

    GLD could back-test the down channel break-out near 176 to form the right shoulder.

  2. pugsma said

    GLD has reached the right shoulder target area of 175 of the potential bullish IHS.

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