XAUUSD Is currently in a bearish flag channel after reaching a record high with investors flocking to safe haven assets amidst fiscal issues. A rising wedge pattern has formed within this channel. This pattern is a bearish pattern signifying a reversal.
This bearish confirmation (rising wedge) within a bearish flag is confirmation of a potential move to the downside.
*This is not financial advice and should not be regarded as such. This is merely the idea of the author.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.