Open:
High:
Low:
Close:
DESCENDING TRIANGLE
Gold
XAU/USD
1H
Gold gives a descending triangle and the price requests a further active move as proof of a breakout.
A descending triangle typically identifies an extension in the downward direction when price collapses through the support line.
Gold to experience further corrective weakness towards the 4460 mark.
RISING WEDGE
Gold
XAU/USD
4H
It seems like a rising wedge is determined and the price expects strong pullback for clear breakdown confirmation.
A rising wedge results in price reversal after a pause if price collapses through the support line.
Gold pulls away from recent highs towards the 4450 mark.
RISING WEDGE
Gold
XAU/USD
1H
We can see that the price develops a rising wedge.
A rising wedge signals an extension in the downward direction when price breaks down.
Gold looks for a setback towards the 4500 level as outlook for the commodity stays negative.
BULLISH FLAG
Gold
XAU/USD
1H
There is a bullish flag materializing.
Once price breaks through the resistance, the resulting move could predict that the price to go up.
Gold to extend its rebound towards 4520 while above 4520.
RECTANGLE
Gold
XAU/USD
1H
There is a rectangle emerging and gold needs more strong fall as evidence of a breakdown.
A rectangle suggests a specific price action indicator that typically signals a move down if price breaks down.
It is possible that a further rangebound towards the 4480 level will be made on a breakdown of the rectangle as bears looking for profit.
ASCENDING CHANNEL
Gold
XAU/USD
1H
There is an ascending channel determined.
An ascending channel is believed to be a specific bearish price formation that has an upward slope that can be used to predict the more likely potential of falling prices once price breaks below support.
Gold to continue lower to 4520 on a breach of 4540.
DESCENDING CHANNEL
Gold
XAU/USD
4H
A descending channel has been exposed, the price lacks a bigger bullish move as a signal of a breakout.
A descending channel indicates reversals in downtrends if price breaks through the resistance.
Gold to head to 4600 as the commodity is at a brink of a bullish breakout.
DESCENDING CHANNEL
Gold
XAU/USD
4H
As we can see a descending channel is diagnosed.
A descending channel signals a bullish move once price breaks above resistance.
Gold to continue higher to the 4550 mark on a breach of 4520.
DESCENDING CHANNEL
Gold
XAU/USD
1H
We can see that a descending channel occurs.
A descending channel is a reliable price pattern that can be used to indicate the bears have run out of steam once price breaks out.
Gold turns higher towards 4500 on a breakout of the descending channel.
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