A Bull Market Descending Triangle Pattern
Updated
Details are in the chart.
After an impulsive phase, gold has been consolidating within a triangle pattern in the last 2-3 months. A break out could be possible in the near term.
For more info about triangle pattern and Elliott wave, check out this link
elliottwave.net/educational/basictenets/basics3.htm
Stay tuned !
After an impulsive phase, gold has been consolidating within a triangle pattern in the last 2-3 months. A break out could be possible in the near term.
For more info about triangle pattern and Elliott wave, check out this link
elliottwave.net/educational/basictenets/basics3.htm
Stay tuned !
Comment
A break out move has occurred. Gold is testing strong resistance at 1340. If 1340 can't hold, a fast move to 1350-1355 is on the table.Comment
Gold is moving fast and furious,. It is now trading at 1343. The potential trade war between US and China could push gold up to a new high this year. A test of strong resistance 1350-1360 could happen today Friday or the beginning of next week.Comment
Gold is testing major resistance area at 1350-1355. If you already go long, you can take partial profit at 1355-1360.
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.