Open:
High:
Low:
Close:
DESCENDING CHANNEL
Gold
XAU/USD
1H
It looks like a descending channel is nearing completion and gold needs a bigger move as a verification of a breakout.
A descending channel is considered to be a technical bullish formation that is used to spot a break in the price direction once price breaks through the resistance.
There is a probability of a bullish run to the 4800 level.
RECTANGLE
Gold
XAU/USD
1H
There is a rectangle identified and the price is ready to break out soon.
In case if price breaks down, the move could identify a sharp decline.
Decline to the 4720 mark stays on the cards on a breakdown of the rectangle.
RECTANGLE
Gold
XAU/USD
1H
A rectangle is close to being completed and the price wants bigger push down for clear breakout confirmation.
If price breaks down, the move could spot that the price to go down.
It is possible that decline towards the 4740 zone will take place while below 4760 as gold failes to keep gains.
ASCENDING CHANNEL
Gold
XAU/USD
4H
There is an ascending channel spotted, gold asks for a bigger correction as an information of a breakdown.
An ascending channel results in a further move down if price breaks out to the the downside.
A bearish price action to 4750 about to be made as upside pressure mitigates.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
Gold completes a descending triangle.
A descending triangle provides a compelling bullish price action indicator that typically results in that the price to go long in case if price breaks out to the the upside.
Gold to continue the appreciation trend towards the 4820 zone as outlook for gold stays positive.
ASCENDING CHANNEL
Gold
XAU/USD
1H
It seems like an ascending channel is diagnosed.
When price breaks out, the resulting move could signal a move down.
A rangebound to 4800 stays on the cards.
RISING WEDGE
Gold
XAU/USD
4H
It looks like a rising wedge happens and the price asks for a next correction to confirm a breakdown.
A rising wedge is believed to be a technical chart indicator that can be used to signal that the price to go down once price breakdown occurs.
There is a chance of a rangebound to 4800 as bears seeking a new low.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
The price forms a descending triangle, gold asks for a next steady move to confirm a breakout.
In case if price breaks above resistance, the resulting move could predict that the price to go up.
A bullish push up towards the 4840 level is going to happen as weakness seen overdone.
RISING WEDGE
Gold
XAU/USD
1H
A rising wedge is close to completion and the price is close to breaking out soon.
A rising wedge indicates a pause in an uptrending market once price breaks out.
Gold risks suffer setback to the 4800 zone while below 4815.
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