Open:
High:
Low:
Close:
ASCENDING CHANNEL
Gold
XAU/USD
1H
The price develops an ascending channel and gold demands more bigger pullback as an indication of a breakout.
An ascending channel is believed to be a reliable bearish chart signal that often results in a further move down if price breaks through the support.
Gold risks extending drop to 4540.
RISING WEDGE
Gold
XAU/USD
1H
There is a rising wedge appearing, gold requests next push down for the certainty of breakdown.
A rising wedge is believed to be a specific chart signal that can be used to signal a bearish price move when price breaks out to the the downside.
Gold now looks towards the 4540 level.
FALLING WEDGE
Gold
XAU/USD
1H
There is a falling wedge uncovered and gold requires a more move as a sign of a breakout.
When price breaks out, the resulting move could predict a bullish move.
There is a chance of a bullish push up to the 4600 zone.
DESCENDING TRIANGLE
Gold
XAU/USD
4H
A descending triangle is very close to being finished, the price requires a further steady bearish continuation as evidence of a breakout.
A descending triangle is said to depict a compelling indicator that spots extending an downtrend in case if price breakdown occurs.
Gold pulls away from recent highs to the 4640 level on a downside break.
RECTANGLE
Gold
XAU/USD
1H
It seems like a rectangle turns up.
A rectangle suggests a useful bearish chart signal that is used to indicate an extension in the downward direction if price breaks out to the the downside.
It is likely that a move to the 4670 zone will take place.
DESCENDING CHANNEL
Gold
XAU/USD
1H
We can see that a descending channel has been noticed.
A descending channel depicts a specific bullish price action indicator that is used to spot a change in the prevailing trend in case if price breaks out to the the upside.
It is not ruled out that a bullish move towards the 4710 zone will happen on a breach of 4704 as the commodity becomes bullish.
PENNANT
Gold
XAU/USD
4H
It looks like a pennant is almost finished and the price is going to break out now.
A pennant often results in that the price to go short when price collapses through the support line.
Gold to extend the fall towards the 4680 zone on a breakout of the pennant.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
It seems like an ascending triangle has been encountered and the price requires steady push down as a clue of a breakdown.
Once price collapses through the support line, the move could signal a bearish move.
There is a chance of a rangebound towards 4660 once below 4685.
PENNANT
Gold
XAU/USD
1H
We can see that the price develops a pennant, the price is breaking out.
A pennant is a compelling signal that can be used to indicate a bullish price action in case if price breaks out.
A bullish price action to 4720 is likely on a breach of 4700.
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.