Open:
High:
Low:
Close:
DESCENDING CHANNEL
Gold
XAU/USD
1H
A descending channel is close to completion, gold calls for a bit more consolidation as a sign of a breakout.
A descending channel tends to be a technical bullish price indicator that often signals a bullish price action when price breaks through the resistance.
There is a possibility of a bullish move towards 4060.
BULLISH FLAG
Gold
XAU/USD
1H
There is a bullish flag emerging.
A bullish flag represents a formation that often spots that prices move counter to the prevailing price trend in case if price breaks above resistance.
Gold to grind higher towards 4020 on a breakout of the bullish flag as downside pressure alleviates.
RECTANGLE
Gold
XAU/USD
1H
There is a rectangle developing.
A rectangle denotes a price indicator that is used to identify a further move down in case if price breaks out to the the downside.
Extra downside towards 4000 is a possibility.
DESCENDING TRIANGLE
Gold
XAU/USD
4H
There is a descending triangle distinguished.
A descending triangle can be thought of as a useful bearish signal that can be used to indicate the bulls have run out of steam if price breaks through the support.
Gold still risks a move to the 3950 mark.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
There is an ascending triangle revealed.
An ascending triangle typically results in a next move down when price breaks out.
There is a chance of a move towards 4020 as gold becomes offered.
ASCENDING CHANNEL
Gold
XAU/USD
1H
There is an ascending channel coming out.
An ascending channel describes a specific price action signal that typically identifies a bearish price action once price breaks out to the the downside.
Gold to head towards 4040.
DESCENDING CHANNEL
Gold
XAU/USD
4H
A descending channel is almost done, the price demands a more strong impulse up as a clue of a breakout.
A descending channel identifies that the price to go long if price breaks out.
There is a chance of a bullish price action to 4100 on a breakout of the descending channel.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
An ascending triangle takes place.
An ascending triangle suggests a useful formation that is used to indicate extending an uptrend if price breaks out to the the upside.
A move towards the 4060 zone is about to happen on a breach of 4055.
BULLISH FLAG
Gold
XAU/USD
4H
There is a bullish flag taking place and gold asks for a bullish action as evidence of a breakout.
If price breaks out, the move could indicate the bears have run out of steam.
It is not ruled out that a bullish run towards the 4100 mark will form while above 4060.
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