Pug, on the A$Gold chart the pattern that can be seen is a plain...

  1. 3,360 Posts.
    Pug, on the A$Gold chart the pattern that can be seen is a plain vanilla head & shoulders, though there are a number of mitigating factors that I think will prove it to be a failed pattern, provided it has even been confirmed yet (break of the neckline)

    - volume does not confirm the pattern
    - there is a bullish falling wedge
    - very oversold momentum indicators
    - bullish divergences

    Also as I posted in another thread this morning there are some bearish developments on the AUD chart, ie bullish for A$Gold.
 
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