GOLD Breakdown this rising wedge pattern, what's next?

2022年12月17日

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#GOLD

Gold is trading inside the rising Channel pattern and also forming this rising wage pattern at the top of this channel. Currently, we can see a breakdown of this rising wedge pattern so we are expecting a drop towards the 1730-level support.

what is rising wedge pattern
A rising wedge is often considered a bearish chart pattern that points to a reversal after a bull trend. A rising wedge is believed to signal an imminent breakout to the downside. Like other wedges, the pattern begins wide towards the bottom and contracts as the price moves higher and the trading range narrows.

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2022年12月17日

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