- Gold prints ascending triangle on the 15-minute chart.
- A breakout would imply a continuation fo the uptrend.
Gold is currently trading at $1,784 per ounce, representing a 0.11% gain on the day, having tested Monday’s high of $1,787 soon before press time.
The ascending triangle is a bullish continuation pattern that usually forms during an uptrend, which seems to be the case here. Gold has formed the ascending triangle at eight-year highs.
A breakout would expose the psychological resistance of $1,800. Alternatively, a downside break of the ascending triangle would shift risk in favor of a deeper pullback to $1,775. At press time, the lower end of the triangle is located at $1,783.
|Today last price||1785.02|
|Today Daily Change||0.56|
|Today Daily Change %||0.03|
|Today daily open||1784.46|
|Previous Daily High||1787.11|
|Previous Daily Low||1770.16|
|Previous Weekly High||1789.28|
|Previous Weekly Low||1757.7|
|Previous Monthly High||1785.91|
|Previous Monthly Low||1670.76|
|Daily Fibonacci 38.2%||1780.64|
|Daily Fibonacci 61.8%||1776.63|
|Daily Pivot Point S1||1774.04|
|Daily Pivot Point S2||1763.63|
|Daily Pivot Point S3||1757.09|
|Daily Pivot Point R1||1790.99|
|Daily Pivot Point R2||1797.53|
|Daily Pivot Point R3||1807.94|
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