Open:
High:
Low:
Close:
ASCENDING CHANNEL
Gold
XAU/USD
4H
There is an ascending channel emerging and gold calls for a bigger correction as an information of a breakdown.
An ascending channel is a price pattern with an upward bias that often identifies an interruption of an uptrend when price breakdown occurs.
Gold risks further decline towards the 5200 level on a breakout of the ascending channel.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
A descending triangle takes place, gold asks for a strong move to confirm descending triangle breakdown.
A descending triangle indicates that the price to go short when price breakdown occurs.
There is a chance of a bearish run towards 5250.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
An ascending triangle takes place.
An ascending triangle depicts a technical bullish chart signal that is used to identify the more likely potential of rising prices if price breaks through the resistance.
A bullish price action towards the 5220 mark looks likely.
PENNANT
Gold
XAU/USD
4H
There is a pennant developing.
A pennant identifies a technical bullish formation that typically results in a bullish price move if price breaks out to the the upside.
Gold to push up towards 5250.
PENNANT
Gold
XAU/USD
1H
It looks like gold forms a pennant, gold wants a next move for the certainty of breakout.
A pennant typically indicates extending an uptrend in case if price breaks above resistance.
Gold to increase bullish potential towards 5020 on a breach of 5012.
RECTANGLE
Gold
XAU/USD
1H
It seems like a rectangle is close to being done, gold lacks a next bigger bullish action to confirm rectangle breakout.
A rectangle spots that prices are likely to keep rallying upward in case if price breaks out to the the upside.
It is not ruled out that a bullish move to 5040 will form as door open for a test of 5040.
RISING WEDGE
Gold
XAU/USD
1H
As we can see a rising wedge is close to being complete, the price is ready to break out.
A rising wedge often signals a next move down in case if price breaks below support.
It is not ruled out that extra downside to 4950 will take place as upside pressure seen easing.
DESCENDING CHANNEL
Gold
XAU/USD
4H
There is a descending channel diagnosed.
A descending channel often identifies a break during a downtrending market in case if price breaks above resistance.
Gold targets a move to 5050 on a breakout of the descending channel as weakness seen overdone.
BULLISH FLAG
Gold
XAU/USD
4H
A bullish flag has been revealed and gold calls for a move as an indication of a breakout.
A bullish flag denotes a bullish price action formation that is used to predict a trend change to the upside if price breaks above resistance.
A move towards 5000 is likely as the wind continues blowing in favor of the commodity.
Disclaimer.
No Investment Advice Provided.
Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
Patterns.cc will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Risk Disclosure.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.