Gold experienced a period of consolidation after a rally, resulting in a symmetrical triangle pattern on the 4-hour chart of the commodity. It is a continuation pattern, meaning that it is not inherently bullish or bearish but suggests that prices will continue moving in the same direction as before consolidation. Considering that in this case the previous move was up, it is reasonable to expect the rally to continue.
On the present chart, yellow lines show the triangle pattern itself. The...
Symmetrical Triangle on 4-Hour Chart of Gold as of 2019-06-30
* This article was originally published here
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