XAUUSD – Pennant/Wedge

XAUUSD – Pennant/Wedge

GOLD / U.S. DOLLAR FX_IDC:XAUUSD


Nice wedge , inverted flag, bearish pennant what ever you want to call it.

Typically we would say this indicates a bearish move however with April’s trendline which has been confirmed twice as being a valied trendline is now broke, therefore I’m expect a retest and and bullish rally to complete the right shoulder.

Stochastic is making higher lows along with RSI .

Let me know you thoughts… the chart should paint a clear picture.