Open:
High:
Low:
Close:
RISING WEDGE
Gold
XAU/USD
4H
There is a rising wedge diagnosed.
A rising wedge represents a bearish pattern that can be used to indicate a bullish-to-bearish trend reversal if price collapses through the support line.
Gold to resume its downfall towards 4000 on a breach of 4030.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
A descending triangle appears.
If price breaks out to the the downside, the resulting move could spot a sharp decline.
A bearish continuation towards the 4000 mark stays on the cards on a breakout of the descending triangle.
DESCENDING CHANNEL
Gold
XAU/USD
1H
Gold creates a descending channel.
When price breaks out to the the upside, the move could identify a break during a downtrending market.
Gold to recover bullish potential towards 4060.
RISING WEDGE
Gold
XAU/USD
1H
A rising wedge turns up, gold demands a next steady move as an indication of a breakout.
A rising wedge typically indicates a bearish price move in case if price breaks through the support.
There is a chance of a rangebound towards 4100.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
There is an ascending triangle happening and the price calls for an active bullish move as an information of a breakout.
When price breaks out to the the upside, the move could identify that the price will rally further.
There is a probability of a rangebound to 4140 on a breakout of the ascending triangle as the commodity becomes bid.
ASCENDING CHANNEL
Gold
XAU/USD
1H
An ascending channel is distinguished and gold requires a correction as evidence of a breakout.
When price breaks below support, the resulting move could signal a bearish price action.
Gold to slide to 4100 as gold challenges 4110 hurdle.
PENNANT
Gold
XAU/USD
1H
A pennant has been revealed and the price asks for a further active move for clear breakout confirmation.
A pennant indicates that the price to go up if price breaks out.
Gold to continue higher to the 4100 mark on impulse above 4075.
BULLISH FLAG
Gold
XAU/USD
1H
A bullish flag is close to being done, gold expects a strong move as an indication of a breakout.
A bullish flag identifies a bullish formation that is used to indicate a countertrend succeeding the current trend once price breaks out to the the upside.
Gold to jump towards 4080 as risk reversal sheds bearish bias.
PENNANT
Gold
XAU/USD
1H
A pennant is exposed, the price is ready to break out.
Once price breaks down, the resulting move could identify a sharp decline.
Gold challenges a move to 4080 on a breakdown of the pennant.
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