The Gold has formed a rising bullish head and shoulders pattern on 4h timeframe. We should see a move up
The price spiked to 1650 yesterday after an unexpected FED rate cut. The flight to a safe haven such as GOLD was expected after the rate cut. At this point, we can see that 1625 zone is a support area where we expect the price to continue further up. If the trend line is broken, 1658 should be next. If 1620 breaks lower, the pattern will be invalidated.
