Open:
High:
Low:
Close:
DESCENDING CHANNEL
Gold
XAU/USD
1H
As we can see a descending channel is almost finished and the price is ready to break out.
Once price breaks out, the move could signal an interruption of a downtrend.
It is likely that a bullish run towards 4740 will occur on a breakout of the descending channel.
FALLING WEDGE
Gold
XAU/USD
1H
There is a falling wedge exposed and the price demands a strong move as an information of a breakout.
A falling wedge suggests a specific bullish chart pattern that indicates a countertrend succeeding the current trend once price breaks above resistance.
Gold points to the upside to the 4720 level.
FALLING WEDGE
Gold
XAU/USD
1H
A falling wedge takes place.
A falling wedge is said to depict a specific bullish chart signal that often spots an interruption of a downtrend in case if price breaks through the resistance.
A bullish price action towards the 4760 zone is possible on a breach of 4750 as gold probes 4750 hurdle.
FALLING WEDGE
Gold
XAU/USD
4H
A falling wedge is identified and the price is about to break out soon.
If price breaks out, the resulting move could indicate a change in the prevailing trend.
Gold to grind higher to the 4750 mark on a break above 4730.
PENNANT
Gold
XAU/USD
1H
We can see that a pennant has been discovered and the price expects an active impulse down for clear breakdown confirmation.
Once price breaks down, the move could identify a bearish price action.
Gold to resume its downfall towards 4720.
DESCENDING CHANNEL
Gold
XAU/USD
1H
It looks like a descending channel is nearing completion and gold needs a bigger move as a verification of a breakout.
A descending channel is considered to be a technical bullish formation that is used to spot a break in the price direction once price breaks through the resistance.
There is a probability of a bullish run to the 4800 level.
RECTANGLE
Gold
XAU/USD
1H
There is a rectangle identified and the price is ready to break out soon.
In case if price breaks down, the move could identify a sharp decline.
Decline to the 4720 mark stays on the cards on a breakdown of the rectangle.
RECTANGLE
Gold
XAU/USD
1H
A rectangle is close to being completed and the price wants bigger push down for clear breakout confirmation.
If price breaks down, the move could spot that the price to go down.
It is possible that decline towards the 4740 zone will take place while below 4760 as gold failes to keep gains.
ASCENDING CHANNEL
Gold
XAU/USD
4H
There is an ascending channel spotted, gold asks for a bigger correction as an information of a breakdown.
An ascending channel results in a further move down if price breaks out to the the downside.
A bearish price action to 4750 about to be made as upside pressure mitigates.
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