Spot Gold (XAUUSD) had been falling for quite some time, and now gets support around 1275 zone.
We can now observer that Gold has formed an inverse Head & Shoulder on H4 and H1 timeframes. Therefore if the neckline is broken to the upside, we can expect the market to go and test the down trendline as shown on the chart.
Disclaimer: Our analysis and forecasts given on this website are just our point of view about the market. It is not a trading signal or investment advice.