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RISING WEDGE
Gold
XAU/USD
1H
It seems like a rising wedge has been determined and gold wants a further move as an information of a breakout.
A rising wedge depicts a chart formation with an upward bias that typically indicates a bearish move if price breakdown occurs.
Decline towards the 4560 mark is probable as the commodity probes 4570 hurdle.
DESCENDING CHANNEL
Gold
XAU/USD
4H
There is a descending channel occuring and the price is going to break out now.
When price breaks out to the the upside, the resulting move could spot a sharp rise.
There is a chance of a bullish move to 4560 on a breach of 4555.
DESCENDING CHANNEL
Gold
XAU/USD
1H
As we can see a descending channel has been determined and the price lacks a bigger move as a signal of a breakout.
In case if price breaks out to the the upside, the move could predict price heading to a new direction.
There is a probability of a move to the 4560 zone on a breach of 4540 as bulls seeking a new high.
PENNANT
Gold
XAU/USD
1H
There is a pennant recognized, gold requests a next active bearish action for the certainty of breakout.
A pennant signals a bearish move once price breaks out to the the downside.
There is a possibility of a bearish move to 4500.
PENNANT
Gold
XAU/USD
1H
There is a pennant occuring and gold lacks a strong bearish action as an information of a breakout.
A pennant is considered to be an indicator that spots a bearish price move when price breaks out.
Corrective downside to the 4500 zone is on the cards while lower than 4515.
BEARISH FLAG
Gold
XAU/USD
1H
There is a bearish flag developing and the price requests a bigger impulse down for the certainty of breakdown.
A bearish flag often identifies a move down if price breaks out to the the downside.
There is a probability of a bearish continuation to the 4500 zone on a break below 4520.
RECTANGLE
Gold
XAU/USD
1H
A rectangle develops.
A rectangle spots a further move up when price breaks through the resistance.
Gold opens door for a move towards the 4560 zone as there is room for a upside correction.
DESCENDING CHANNEL
Gold
XAU/USD
1H
We can see that a descending channel is close to completion.
A descending channel denotes a bullish price action indicator that is used to identify a downward trend is about to reverse into an upnward trend in case if price breaks above resistance.
There is a probability of a bullish push up towards 4520 on a breach of 4500 as the mood may improve.
FALLING WEDGE
Gold
XAU/USD
1H
There is a falling wedge identified.
A falling wedge provides a bullish formation that typically indicates that the price to go up in case if price breaks above resistance.
A move to 4500 is not ruled out.
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