Open:
High:
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Close:
FALLING WEDGE
Gold
XAU/USD
1H
There is a falling wedge emerging.
A falling wedge often indicates a move up in case if price breaks out to the the upside.
Gold is bullish and en route to the 4170 mark as gold challenges 4160 hurdle.
BEARISH FLAG
Gold
XAU/USD
1H
As we can see a bearish flag is diagnosed.
A bearish flag identifies a bearish price action when price breaks down.
It is possible that corrective downside towards 4140 will occur.
BEARISH FLAG
Gold
XAU/USD
4H
We can see that a bearish flag is recognized.
A bearish flag is believed to be a bearish price pattern that can be used to indicate the bulls have run out of steam once price breaks out.
Gold accelerates losses to 4140.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
There is a descending triangle coming out, the price is going to break out.
Once price breaks out, the move could spot that the price to go long.
Gold to jump towards 4180 on a breakout of the descending triangle as gold becomes bid.
PENNANT
Gold
XAU/USD
1H
A pennant is close to completion and the price is ready to break out now.
A pennant suggests a price signal that typically results in that the price to go down if price breaks below support.
Gold targets a move towards the 4120 level once below 4145 as gold becomes offered.
ASCENDING CHANNEL
Gold
XAU/USD
1H
An ascending channel is distinguished and the price expects a more steady move as a verification of a breakdown.
An ascending channel is a specific bearish pattern that predicts a tendency to break in the opposite direction once price collapses through the support line.
Gold to resume its downfall to 4140.
RECTANGLE
Gold
XAU/USD
1H
A rectangle has been uncovered, the price calls for next rise as an indication of a breakout.
A rectangle represents a bullish chart formation that often signals that the price to go up once price breaks above resistance.
There is a probability of a further bullish price action to 4210 while above 4205 as door open for the continuation of the uptrend.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
It looks like a descending triangle is nearing completion.
A descending triangle is said to depict a reliable price pattern that can be used to identify that the price to go up once price breaks above resistance.
There is a chance of a bullish push up to the 4200 zone on a upside break.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
There is an ascending triangle diagnosed and gold requests a bigger correction as an information of a breakdown.
An ascending triangle suggests a chart formation that predicts extending an downtrend once price collapses through the support line.
Gold could drop to the 4170 zone as upside pressure mitigates.
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