Gold Weekly Summary and Prediction 6/8/2025

In my last week's post, I mentioned that gold would potentially form an inverse head and shoulder pattern. In deed, the structure has been formed after last week's closing above 3300. In daily we also noticed that the trendline structure has been broken. Currently price is retesting the trendline. If daily candle respects the trendline, we would see a strong pushing on the price towards another ATH.

For next week's trading plan, I will closely monitor the trendline and 3280-3300 support. As long as this support holds, I am bullish on gold.