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RISING WEDGE
Gold
XAU/USD
1H
It seems like the price establishes a rising wedge and the price breaks out now.
Once price breaks out, the move could identify a further move down.
There is a chance of a bearish run towards 4600.
ASCENDING CHANNEL
Gold
XAU/USD
4H
RISING WEDGE
Gold
XAU/USD
1H
There is a rising wedge identified and the price is close to breaking out soon.
A rising wedge can be thought of as a technical indicator that typically identifies a further move down when price breaks out to the the downside.
Gold could extend its slump to the 4580 level.
PENNANT
Gold
XAU/USD
1H
There is a pennant uncovered.
A pennant signals a bullish price action when price breaks out.
Gold looks ready to further extend its gains to the 4600 mark on impulse above 4595.
ASCENDING CHANNEL
Gold
XAU/USD
1H
An ascending channel forms and the price needs a next bigger move as evidence of a breakout.
An ascending channel predicts a further move down if price breaks below support.
There is a possibility of a bearish price action to 4560.
RISING WEDGE
Gold
XAU/USD
1H
It looks like a rising wedge is found, gold expects a further move for the certainty of breakout.
A rising wedge often results in a bearish move if price breaks below support.
Gold risks extra losses to 4460 as bears looking for downside correction.
PENNANT
Gold
XAU/USD
4H
The price gives a pennant, the price is breaking out.
A pennant denotes a useful price indicator that is used to signal a sharp rise in case if price breaks out.
Gold tests a move to the 4500 zone on a breach of 4480.
DESCENDING CHANNEL
Gold
XAU/USD
1H
A descending channel develops, gold asks for an active bullish action as proof of a breakout.
A descending channel typically spots a bullish price action once price breaks through the resistance.
Gold to enjoy a considerable gain towards the 4470 mark as weakness seen overdone.
FALLING WEDGE
Gold
XAU/USD
1H
There is a falling wedge poping up, the price lacks a strong move for the certainty of breakout.
A falling wedge can be thought of as a useful signal that often signals a pause in a downtrending market once price breaks above resistance.
There is a possibility of a move to 4460 on a breakout of the falling wedge as bulls look for entries.
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