The price action of gold in the period from May to July is increasingly resembling a 'head and shoulders' base pattern. This pattern is typically a bullish reversal pattern that indicates a potential shift from a downtrend to an uptrend.

If Gold can rally and break above the $1,987 level in the next five trading sessions, it would reinforce the belief in the 'head and shoulders' base formation, potentially indicating a move upwards to the $2,070 level.

Should Gold drop below the $1,945 level, we see a risk that prices might descend to retest their lows or the 200-Day Simple Moving Average (SMA), which hovers around the $1,900 mark.