Best looking weekly chart, page-623

There are so many false dawns in the precious metals market that it is really vexing investing in it .But the change in trend has to start somewhere even though identifying it is difficult and sometimes we are wrong. However we may have the first green shoot for a reversal in gold. As can be seen from the chart attached there is a small reverse head and shoulder which has just been confirmed. Quite often in a head and shoulders pattern the head would form at the down trending lower rail in a reversal; as it is the case with the small black head and shoulders. What's more the target price of this head and shoulders pattern is about 1835 which is above the upper rail of the falling wedge. It is not plain sailing yet but one step at a time.