Open:
High:
Low:
Close:
ASCENDING CHANNEL
Gold
XAU/USD
4H
An ascending channel is observed, the price is about to break out now.
Once price breaks out, the resulting move could spot a bearish price move.
It is likely that decline towards the 4100 level will form.
ASCENDING CHANNEL
Gold
XAU/USD
4H
It seems like the price forms an ascending channel, gold calls for a further steady move as a clue of a breakout.
An ascending channel depicts a compelling bearish pattern that can be used to identify a temporary interruption during a rising market in case if price breaks down.
It is not ruled out that a bearish continuation to 4140 will form.
FALLING WEDGE
Gold
XAU/USD
1H
There is a falling wedge emerging and the price calls for a steady move for clear breakout confirmation.
A falling wedge spots a next move up once price breaks through the resistance.
There is a possibility of a bullish move to the 4190 mark while above 4180.
RECTANGLE
Gold
XAU/USD
1H
It looks like a rectangle is very close to being finished, the price is breaking out.
A rectangle indicates the more likely potential of falling prices once price breaks down.
Gold could attempt a move to 4160 as extra rangebound not ruled out.
RISING WEDGE
Gold
XAU/USD
4H
It seems like a rising wedge comes out.
A rising wedge spots price reversal after a pause when price breaks below support.
Gold could recede towards the 4160 level on impulse below 4180.
BULLISH FLAG
Gold
XAU/USD
1H
We can see that a bullish flag comes out, the price is breaking out.
If price breaks through the resistance, the move could indicate a countertrend succeeding the current trend.
Gold to maintain its positive tone towards 4210.
DESCENDING CHANNEL
Gold
XAU/USD
1H
A descending channel happens.
A descending channel often identifies that the price to go up once price breaks above resistance.
Gold to jump towards 4200 as weakness seen overdone.
RECTANGLE
Gold
XAU/USD
1H
As we can see a rectangle is very close to being finished, the price breaks out now.
A rectangle provides a signal that is used to indicate an extension in the downward direction if price breaks through the support.
Gold now looks towards 4180.
RECTANGLE
Gold
XAU/USD
4H
A rectangle pops up and the price is ready to break out.
A rectangle is considered to be a price indicator that signals that prices are likely to keep rallying upward if price breaks above resistance.
A further rangebound to the 4220 mark is likely to happen.
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