Chart of the Week: Gold bulls stepping in at critical support


content provided with permission by FXStreet

Gold prices might finally stablise following the drop from last week.

The following illustrates the potential for a reversal from a longer-term point of view and a healthy correction from a nearer-term outlook.

Monthly chart

The monthly reverse head and shoulders is a bullish chart pattern that could be in the makings if the price continues higher next month. 

Weekly chart

Daily chart

4-hour chart