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Inverted Cup and handle pattern in XAUUSD


Gold against the Dollar has been sideways since September Ist, 2022, traded between 1700 to 1726 for almost a month for almost half of the month, Stronger CPI data on Tuesday affect the gold market by making the Dollar strong,
Bearish momentum has supported by Inverted Cup and handles pattern,
Market sentiment on Gold is also mostly bearish, it can be understood from the following statement
‘Société Générale sees gold prices falling to $1,550 in 2023 and recovering to $1,900 by 2024’