An ascending channel is almost completed.
An ascending channel depicts a technical bearish indicator that predicts price reversal after a pause if price breaks out to the the downside.
Gold opens door for a move towards 5000.
三角旗形
黄金XAU/USD4H
A pennant emerges.
A pennant identifies a specific chart formation that can be used to indicate a move up when price breaks above resistance.
Gold is bullish and en route to the 5100 zone.
下降通道
黄金XAU/USD1H
Gold shapes a descending channel, the price is ready to break out now.
In case if price breaks through the resistance, the resulting move could spot a bullish price action.
Gold tests a move to 4950 amid rising bets for the move.
下降楔形
黄金XAU/USD1H
There is a falling wedge occuring and the price lacks next active rise to confirm a breakout.
A falling wedge indicates a further move up when price breaks through the resistance.
It is possible that a bullish move to 4900 will take place on a breach of 4840.
下降三角形
黄金XAU/USD1H
A descending triangle comes out, gold needs a next bigger move to confirm a breakdown.
A descending triangle can be thought of as a bearish price pattern that predicts a bearish price action when price breaks out.
There is a chance of a rangebound to the 4750 level.
下降通道
黄金XAU/USD1H
The price gives a descending channel and the price requires next bigger rise for the certainty of breakout.
If price breaks above resistance, the move could spot a tendency to break in the opposite direction.
A move towards 4900 stays on the cards as extra rangebound not ruled out.
矩形
黄金XAU/USD1H
As we can see a rectangle is diagnosed, the price breaks out.
A rectangle often spots an extension in the downward direction once price breaks down.
It is likely that a further bearish continuation to the 4850 level will form on impulse below 4890 as sell-off may continue.
上升通道
黄金XAU/USD1H
There is an ascending channel found, the price breaks out.
In case if price breaks below support, the resulting move could spot a further move down.
Gold tests a move to 4900 on a breakdown of the ascending channel.
上升通道
黄金XAU/USD1H
There is an ascending channel noticed and the price is breaking out.
An ascending channel provides a compelling chart signal that can be used to identify a next move down once price breaks below support.
A further rangebound to the 5000 mark is possible as gold looks offered.