Open:
High:
Low:
Close:
DESCENDING CHANNEL
Gold
XAU/USD
1H
Gold creates a descending channel, gold wants a next steady move to confirm descending channel breakout.
Once price breaks out to the the upside, the move could predict a breakout higher.
There is a possibility of a rangebound to the 5040 level on a breakout of the descending channel.
FALLING WEDGE
Gold
XAU/USD
1H
We can see that gold develops a falling wedge.
In case if price breaks above resistance, the move could signal a bullish move.
A move towards 5040 is probable as extra rangebound not ruled out.
DESCENDING CHANNEL
Gold
XAU/USD
1H
It seems like the price builds a descending channel.
When price breaks out, the resulting move could signal that the price to go long.
Gold to accomodate towards 5050.
DESCENDING TRIANGLE
Gold
XAU/USD
4H
There is a descending triangle arising and the price is about to break out.
When price breaks through the support, the move could signal the more likely potential of falling prices.
There is a probability of a bearish price action towards the 5050 level as there is a chance for a downside correction.
FALLING WEDGE
Gold
XAU/USD
1H
There is a falling wedge observed and the price breaks out now.
A falling wedge denotes a reliable signal that can be used to predict that prices are likely to keep rallying upward in case if price breaks through the resistance.
A bullish price action to 5100 looks likely as weakness seen overdone.
PENNANT
Gold
XAU/USD
1D
There is a pennant distinguished.
Once price breaks down, the resulting move could signal the bulls have run out of steam.
Gold to head to the 5000 zone.
BEARISH FLAG
Gold
XAU/USD
4H
A bearish flag forms, the price requires a move as a clue of a breakdown.
A bearish flag identifies that the price to go down in case if price breaks out to the the downside.
Gold to extend its setback to 5050 on a breach of 5110.
BULLISH FLAG
Gold
XAU/USD
1H
A bullish flag is recognized.
A bullish flag describes a compelling price action formation that is angled down that often spots extending an uptrend when price breaks out to the the upside.
A bullish move towards 5200 looks possible on a breach of 5190.
DESCENDING CHANNEL
Gold
XAU/USD
1H
A descending channel is very close to being completed, the price is going to break out soon.
A descending channel typically predicts a potential bullish reversal in price action when price breaks out.
Gold does not rule out a move to 5180.
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.