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- Gold is being capped in what could be a right-hand shoulder of H&S pattern.
- Eyes on daily support and bullish commitments and consolidation.
As per the prior analysis for the start of the week, Gold Price Analysis: XAU/USD daily support is important for the open, there is a compelling scenario taking shape on the 4-hour chart.
Daily support is a target in what will be a classic impulse, correction, impulse playbook which could potentially result in a bearish topping pattern on the 4-hour chart for the week ahead.
4-hour chart
This article was originally published by Fxstreet.com. Read the original article here.