Gold is pushing up aggressively towards the 1900 level. As per the H4 chart, it looks like gold is trading a bearish rising wedge pattern and this could signal that a reversal is coming soon. The confirmation to trade this pattern is to get a breakout and retest of the support trendline which sits around 1884/80 to ascertain the reversal. However, breaking and close above the resistance trendline will invalidate this idea. Based on the current momentum, there is a possibility that gold might attempt to test one more zone higher which is around 1906/12.
Anulowano zlecenie:
The rising wedge pattern is invalidated since the resistance trendline has broke out.