GOLD\XAUUSD (Y20.P4.E1).Continuation formation.Bullish

Hi All,

If we use the principles of triangles which is pause in the trend, consolidation and using the flagpoles as the next target, we have this.
The RSI on the 12 hrly supports this triangle formation.

Looking at the overall markets, USD index, there is no clarity as to what gold will do in the short to medium term.
With this chart, I have it moving up but I don't see it making new highs any time soon.
Most likely a ranging price action with a slight upward trajectory.


Please give me a like or tick for this post.


Cheers,
S.SAri.


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Yorum:

I forgot to update this chart when I went bearish. Had it as per my original post.