{"id":25600,"date":"2023-05-25T05:40:49","date_gmt":"2023-05-25T05:40:49","guid":{"rendered":"https:\/\/www.investorsradar.com\/chart-art-major-reversal-pattern-on-gold-xau-usd\/"},"modified":"2023-05-25T05:40:49","modified_gmt":"2023-05-25T05:40:49","slug":"chart-art-major-reversal-pattern-on-gold-xau-usd","status":"publish","type":"post","link":"https:\/\/www.investorsradar.com\/chart-art-major-reversal-pattern-on-gold-xau-usd\/","title":{"rendered":"Chart Art: Major Reversal Pattern on Gold (XAU\/USD)"},"content":{"rendered":"<div>\n<p>Will the gold market pull back from the rally soon?<\/p>\n<p>We can see a reversal pattern that is likely to unfold on the 4-hour chart.<\/p>\n<p>At this time, precious metals still float above the neckline support. How much do you think XAU\/USD will drop if it collapses?<\/p>\n<div id=\"attachment_241012\" style=\"width: 790px\" class=\"wp-caption aligncenter\">\n<a rel=\"nofollow\" href=\"https:\/\/bpcdn.co\/images\/2023\/05\/24224625\/XAUUSD_2023-05-25_10-43-02.png\"><\/a><\/p>\n<p id=\"caption-attachment-241012\" class=\"wp-caption-text\">Gold (XAU\/USD) 4 hours <a rel=\"nofollow noopener\" href=\"https:\/\/www.tradingview.com\/symbols\/xauusd\/?aff_id=1489\" target=\"_blank\">Chart by TV<\/a><\/p>\n<\/div>\n<p>After several failed attempts to break out of the $2,040 resistance zone, gold has returned to test the double top neckline at $1,960.<\/p>\n<p>A break below this support zone could send the precious metal as high as the chart formation, or down around $80.<\/p>\n<p>The moving averages seem to favor the downside as the gap between the indicators has narrowed enough to indicate a possible bearish crossover. At the same time, XAU\/USD is trading below both SMAs, so they are likely to hold as dynamic resistance levels.<\/p>\n<p>The Stochastic has some room to fall before reflecting oversold conditions and seller fatigue.<\/p>\n<p>However, if the oscillator starts to move higher, the gold bug could come back and rally again to the spotlight area near $2,000.<\/p>\n<p>Keep an eye out for updates on the US debt ceiling negotiations as they seem to influence recent dollar price action and overall market sentiment.<\/p>\n<p>Any signs of resolution could persuade dollar bulls to charge in, while more signs of disagreement could underscore gold&#8217;s appeal as a safe haven.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Will the gold market pull back from the rally soon? We can see a reversal pattern that is likely to unfold on the 4-hour chart. At this time, precious metals still float above the neckline support. How much do you think XAU\/USD will drop if it collapses? Gold (XAU\/USD) 4 hours Chart by TV After [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":25601,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"slim_seo":[],"footnotes":""},"categories":[23],"tags":[338,337,280,646,1271,1065,345],"class_list":["post-25600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-art","tag-chart","tag-gold","tag-major","tag-pattern","tag-reversal","tag-xauusd"],"_links":{"self":[{"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/posts\/25600"}],"collection":[{"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/comments?post=25600"}],"version-history":[{"count":0,"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/posts\/25600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/media\/25601"}],"wp:attachment":[{"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/media?parent=25600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/categories?post=25600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorsradar.com\/wp-json\/wp\/v2\/tags?post=25600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}