- Gold looks to be forming a Bull flag pattern
- Characterised by two parallel descending trend-lines acting as support/resistance
- The previous structure resistance has already been retested as support with clear rejection at this level
- For this pattern to be completed/valid we would need to see a clear break through the upper trend-line acting as resistance
- If price were to break below the lower trend-line acting as support, this would invalidate the pattern and open the doors to further moves lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- Characterised by two parallel descending trend-lines acting as support/resistance
- The previous structure resistance has already been retested as support with clear rejection at this level
- For this pattern to be completed/valid we would need to see a clear break through the upper trend-line acting as resistance
- If price were to break below the lower trend-line acting as support, this would invalidate the pattern and open the doors to further moves lower
THIS IS NOT TRADE ADVICE NOR A TRADE CALL