March 20, 2018

GOLD at the Apex of contraction | Descending triangle

  • Gold daily time frame shows price near the apex of the pattern Price likely to exit the pattern soon. As it is a descending triangle, Also looks like a rounding top, Most expected price action is on the downside with targets of 1290 and 1270 levels.
  • On the contrary some descending triangles does move in the opposite direction as well. So an upper breakout cannot be ruled out from the support zone around 1310. 

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