Is Gold Ready to Move Higher/Up?

As we can see in the adjacent screen shot that Gold is bullish above the level of $1617 per ounce as it is forming an inverse head and shoulder pattern which is a bullish pattern in any downfall market.

The left shoulder, Head and Neckline are clearly marked in the screen shot and any break past above the level of $1617 can take the gold to $1750 per ounce. Are we ready for this rally ! Please be patient and let this bull rally be confirmed by time. Historical assessment suggests that rally in the US equity index  and S&P 500 in year 2009 began with an inverse head and shoulders pattern

Keep visiting us for the best commodity tips and daily gold tips in Indian commodity market as buying a commodity at the the right price is very important as we can say that right price for gold for buying is approx near $1,475 per ounce.