GOLD - Bullish flag @ previous structure resistance turned supp
- Gold looks to be forming within a bull flag pattern
- This pattern tends to break to the upside
- Characterised by two parallel descending trend-lines
- Price may have found support within the pattern at a previous resistance level, possibly turned support @1235
- We would need a break above the upper trend-line resistance for price to continue higher
- A solid close above mentioned trend-line on 1/4H chart, would be needed to justify entering a long position
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- This pattern tends to break to the upside
- Characterised by two parallel descending trend-lines
- Price may have found support within the pattern at a previous resistance level, possibly turned support @1235
- We would need a break above the upper trend-line resistance for price to continue higher
- A solid close above mentioned trend-line on 1/4H chart, would be needed to justify entering a long position
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- Watch for a break of this line to justify entering a long position