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BEARISH FLAG
Gold
XAU/USD
1H
It seems like a bearish flag has been identified and gold expects a next active impulse down as an indication of a breakout.
A bearish flag predicts a pause in an uptrending market if price breaks through the support.
Gold now looks to the 5000 zone as indicators turn bearish.
PENNANT
Gold
XAU/USD
1H
A pennant occurs.
A pennant can be thought of as a reliable chart formation that predicts a next move up once price breaks out to the the upside.
There is a probability of a bullish continuation towards 4900 once above 4840.
ASCENDING CHANNEL
Gold
XAU/USD
1D
It looks like an ascending channel is close to being finished, the price is going to break out now.
An ascending channel identifies a bearish signal that can be used to spot that the price to go down in case if price breaks below support.
It is possible that a bearish push down to the 4400 level will be made on impulse below 4600.
DESCENDING CHANNEL
Gold
XAU/USD
1H
A descending channel is close to completion and the price is going to break out.
In case if price breaks out, the resulting move could spot a tendency to break in the opposite direction.
Gold to continue higher to 4800 on a break above 4700.
ASCENDING CHANNEL
Gold
XAU/USD
4H
There is an ascending channel distinguished.
An ascending channel is said to depict a compelling bearish price action pattern that is angled up that can be used to signal a bearish price move once price breaks below support.
Gold points to the downside to the 5000 level on a breach of 5150 as the commodity becomes vulnerable.
RISING WEDGE
Gold
XAU/USD
1H
There is a rising wedge found, the price is ready to break out.
Once price breaks through the support, the move could spot a change in price direction.
A bearish move towards 5400 is not ruled out on a breakdown of the rising wedge as the commodity becomes depressed.
RECTANGLE
Gold
XAU/USD
1H
There is a rectangle discovered.
A rectangle is believed to be a useful price signal that can be used to predict that the price to go long if price breaks through the resistance.
It is possible that a bullish push up towards 5120 will occur.
ASCENDING CHANNEL
Gold
XAU/USD
1H
An ascending channel is exposed and the price is going to break out.
An ascending channel depicts a bearish price pattern that has an upward slope that indicates a bearish price action when price collapses through the support line.
There is a probability of a bearish move towards the 5050 mark.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
A descending triangle is spotted.
A descending triangle describes a compelling bullish price action indicator that results in a sharp rise if price breaks out.
Gold points to the upside to the 4840 zone as gold becomes bullish.
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