RLinda ! GOLD-> Triangle pattern and consolidation. Breakout?
Updated
Gold continues to consolidate energy within the range boundaries between resistance 1807 and support of the price channel. In this case, an upward triangle is formed. Pressure is emerging on resistance 1807
The "Rising Triangle" pattern implies an active gathering of energy by buyers to break the resistance ahead, which in this case is the level of 1807.96. A breakthrough of this boundary will open the potential for the price to grow to the rising resistance (dotted line) and up to the level of 1907
I assume that today the price may form a pullback to the support of the price channel and continue to consolidate in this range. In the medium term I expect a break through 1807.96 and growth to 1840
Regards R. Linda!
The "Rising Triangle" pattern implies an active gathering of energy by buyers to break the resistance ahead, which in this case is the level of 1807.96. A breakthrough of this boundary will open the potential for the price to grow to the rising resistance (dotted line) and up to the level of 1907
I assume that today the price may form a pullback to the support of the price channel and continue to consolidate in this range. In the medium term I expect a break through 1807.96 and growth to 1840
Regards R. Linda!
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