Descending Wedge

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We could be seeing a descending wedge beginning to develop. It may be too early to tell whether it is instead a descending channel , but keeping an eye on it once it reaches the support zone should be good indication of a bullish or bearish breakout depending on which way it moves outside the pattern even if it is a channel.
Nota
The formation is a channel, but it is still going according to my chart. We will see how it proceeds
Nota
Gold has broken out it will be difficult for prices to fall again below 1500
Trend Analysis

Penafian