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DESCENDING TRIANGLE
Gold
XAU/USD
1H
There is a descending triangle turning up, the price is breaking out.
In case if price breaks out to the the upside, the move could indicate a sharp rise.
It is possible that a rangebound towards the 4340 level will happen on a breakout of the descending triangle.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
There is an ascending triangle arising.
An ascending triangle typically identifies extending an downtrend once price collapses through the support line.
Gold tests a move to 4320 on a break below 4332.
RISING WEDGE
Gold
XAU/USD
1H
A rising wedge emerges and gold calls for a more bearish move as a signal of a breakout.
In case if price breaks below support, the resulting move could identify that the price to go down.
Gold to push down to the 4320 zone as bears looking for downside correction.
RISING WEDGE
Gold
XAU/USD
1H
A rising wedge is nearing completion and gold requests a bigger correction as evidence of a breakdown.
A rising wedge can be thought of as a compelling price indicator that is used to signal a move down if price breaks through the support.
It is likely that a move towards the 4300 zone will take place on a break below 4320.
RECTANGLE
Gold
XAU/USD
1H
There is a rectangle determined and the price lacks further bigger rise as proof of a breakout.
If price breaks above resistance, the move could identify that the price will rally further.
There is a probability of a bullish push up towards 4330 on a breakout of the rectangle.
FALLING WEDGE
Gold
XAU/USD
1H
We can see that gold sets up a falling wedge and the price breaks out soon.
A falling wedge identifies a compelling bullish pattern that often predicts the bears have run out of steam if price breaks out to the the upside.
Gold to prolong the growth phase towards the 4300 zone as there is room for a upside correction.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
A descending triangle is almost done and the price is close to breaking out.
A descending triangle describes a technical price action indicator that typically predicts a bearish price action once price breakdown occurs.
Gold could attempt a move to 4260 as the commodity probes 4280 hurdle.
ASCENDING CHANNEL
Gold
XAU/USD
4H
It looks like gold forms an ascending channel and gold wants a further move as a clue of a breakdown.
An ascending channel can be thought of as a specific bearish price signal that typically results in a potential bearish reversal in price action when price breakdown occurs.
Gold embarks on a bearish correction to the 4250 mark as the commodity probes 4280 hurdle.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
As we can see gold creates an ascending triangle and the price is breaking out.
An ascending triangle typically results in a bearish move in case if price breakdown occurs.
A further bearish continuation to the 4280 level is on the way.
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