Open:
High:
Low:
Close:
DESCENDING CHANNEL
Gold
XAU/USD
1H
It seems like the price sets up a descending channel.
A descending channel is a compelling indicator that often spots a bullish move if price breaks above resistance.
It is not ruled out that a bullish price action to the 4160 mark will occur once above 4150 as bulls seeking a new high.
RISING WEDGE
Gold
XAU/USD
1H
There is a rising wedge happening and gold demands a next strong move as a sign of a breakout.
A rising wedge identifies a bearish price move if price breaks below support.
There is a probability of a bearish push down to the 4160 mark once below 4180 as risk reversal sheds bullish bias.
BEARISH FLAG
Gold
XAU/USD
1H
A bearish flag happens, the price is ready to break out soon.
A bearish flag indicates that the price to go short once price breakdown occurs.
Gold to extend its setback to the 4180 mark.
SYMMETRICAL TRIANGLE
Gold
XAU/USD
1H
Gold sets up a symmetrical triangle and the price asks for a next active move as a signal of a breakout.
A symmetrical triangle identifies that the price to go long once price breaks out.
There is a possibility of a rangebound to 4220 on a upside break.
DESCENDING CHANNEL
Gold
XAU/USD
1H
We can see that the price sets up a descending channel, gold requests a bigger bullish move for the certainty of breakout.
In case if price breaks out, the resulting move could identify that the price to go up.
There is a chance of a bullish run towards 4200 once beyond 4170 as there is a chance for a upside correction.
RECTANGLE
Gold
XAU/USD
4H
A rectangle is almost completed.
If price breaks out to the the downside, the move could identify that the price to go down.
There is a possibility of a bearish run to the 4150 level.
ASCENDING CHANNEL
Gold
XAU/USD
4H
There is an ascending channel forming.
An ascending channel often identifies prices are likely to keep falling downward in case if price breaks out to the the downside.
Gold to increase bearish potential to 4200 as bears seeking a new low.
ASCENDING CHANNEL
Gold
XAU/USD
1H
It seems like gold develops an ascending channel and the price is ready to break out soon.
An ascending channel depicts a useful bearish price action pattern that is used to signal the more likely potential of falling prices if price collapses through the support line.
Gold risks extending drop towards the 4330 mark as the commodity challenges 4335 hurdle.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
There is a descending triangle revealed.
A descending triangle results in that the price to go long if price breaks out.
Gold to extend its advance towards 4350 while above 4340.
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