Gold Slips Off The Rising Wedge Pattern


The precious metal failed to make any major gains after prices rose to highs near 1788.

The rising wedge pattern signaled earlier results in prices making a short term correction.

However, gold is still trading within the larger bullish price channel. As a result, the upside bias is still intact.

But this could change if gold breaks out from the rising price channel. It will potentially set the stage for gold to correct lower to the 1732 level.

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“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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