New wedge has formed which is identical to previous. Gold has too much tailwind to fall too low. So the wedge seems like the best fit.
-copied previous wedge price action to the right (in blue) as a possible path forward
-copied previous wedge price action to the right (in blue) as a possible path forward
Note
Right...NFP killed the twin wedgeNote
The wedges are still in play. The lines could use a bit of an adjustment though. This week is bear week for gold, so I suspect we may break to the upside next week. Best scenario would be a whipsaw down then up and out.
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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.