It is obvious that gold has a head and shoulders bottom pattern here on the daily line, and the probability of it going up near 2020 is also very high.#XAUUSD
2010-2020 is the shoulder position. Once it rebounds from here to above 2030, there is a high probability that it will directly break through and stand above 2050.
Then, gold may look directly towards the high point of 2070 by then. #GOLD
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Bollinger Bands is a technical Indicator developed by John Bollinger. They consist of a middle band being a 20-period simple moving average (SMA), an upper band at 2 standard deviations above the middle band, and a lower band at 2 standard deviations below the middle band. Traders often use Bollinger Bands to identify potential reversal points. When badlands contract it indicates a low volatility and when bands expand it indicates a high volatility. It's important to complement Bollinger Bands with other indicators and analyses for comprehensive trading decisions.
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