Gold develops a pennant and the price is ready to break out soon.
A pennant suggests a reliable bullish chart formation that predicts that the price will rally further if price breaks above resistance.
There is a possibility of a bullish run towards the 3670 zone once beyond 3658 as downside pressure seen easing.
Gold: Descending Channel
XAU/USD,
4 hours
LONG
Jan 29
It seems like the price creates a descending channel, the price asks for a next move as a clue of a breakout.
Once price breaks above resistance, the move could signal that the price to go long.
XAU/USD to strengthen to 2030 while above 2024.
Gold: Rising Wedge
XAU/USD,
1 hour
SHORT
Feb 2
There is a rising wedge spotted.
A rising wedge predicts a next move down once price breaks below support.
It is possible that a further rangebound towards the 2070 mark will happen.
Gold: Ascending Triangle
XAU/USD,
4 hours
LONG
Oct 5
We can see that an ascending triangle is nearing completion, gold asks for a further move as an information of a breakout.
When price breaks through the resistance, the resulting move could spot extending an uptrend.
It is likely that a bullish continuation to 3920 will take place on impulse above 3900 as bulls look for entries.
Gold: Ascending Channel
XAU/USD,
1 hour
SHORT
Nov 6
As we can see the price shows an ascending channel, the price lacks a more strong move as proof of a breakdown.
An ascending channel is said to depict a useful pattern that has an upward slope that is used to signal a move down in case if price breaks below support.
A further move to the 1985 zone is about to happen on a breakdown of the ascending channel.
Gold: Descending Channel
XAU/USD,
1 hour
LONG
Sep 14
A descending channel is diagnosed, XAU/USD needs a bullish continuation as a sign of a breakout.
A descending channel is said to depict a chart formation that has a downward slope that spots a bullish move once price breaks out.
XAU/USD violates bearish trendline to 1935 as extra rangebound not ruled out.
Gold: Bullish Rectangle
XAU/USD,
1 hour
LONG
Nov 16
There is a bullish rectangle uncovered, XAU/USD lacks an active move for the certainty of breakout.
A bullish rectangle depicts a reliable price action pattern that indicates that prices are likely to keep rallying upward in case if price breaks above resistance.
A rangebound towards 1978 is likely on a breakout of the bullish rectangle.
Gold: Descending Channel
XAU/USD,
1 hour
LONG
Sep 14
There is a descending channel occuring and XAU/USD requires a more bullish impulse as a sign of a breakout.
When price breaks above resistance, the move could spot a downward trend is nearing its end.
It is not ruled out that a bullish move to 1934 will take place once above 1933.
Gold: Ascending Channel
XAU/USD,
1 hour
SHORT
3 days ago
There is an ascending channel turning up and gold lacks more active push down as a clue of a breakout.
An ascending channel suggests a compelling bearish signal that typically predicts a bullish-to-bearish trend reversal once price collapses through the support line.
A bearish move to 4220 looks probable on a break below 4226 as the commodity sticks to the negative mood.
Gold: Ascending Channel
XAU/USD,
1 hour
SHORT
Apr 14
As we can see an ascending channel appears.
An ascending channel describes a technical signal that is used to spot price reversal after a pause if price breaks out.
Corrective downside to 2040 is probable on a breakout of the ascending channel.
Gold: Descending Channel
XAU/USD,
1 hour
LONG
Jan 12
There is a descending channel developing, the price is ready to break out now.
A descending channel often results in that the price to go long if price breaks out to the the upside.
XAU/USD violates bearish trendline towards 2040 amid XAU/USD recovers from recent lows.
Gold: Falling Wedge
XAU/USD,
1 hour
LONG
Nov 20
There is a falling wedge determined and the price demands more rise for the certainty of breakout.
A falling wedge often indicates a move up when price breaks out.
XAU/USD could attempt a move to the 1980 mark as downside pressure seen easing.
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Gold · XAU/USD