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FTE1995
Oct 16, 2019 2:06 PM
GOLD - Rejected 1490 Resistance within Descending Wedge pattern
Short
TVC:GOLD
240
GOLD (US$/OZ)
TVC
Description
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Oct 16, 2019 2:06 PM
- As shown in the chart 1488/1490 has previously acted as strong support prior to price breaking lower through it
- This level now appears to be acting as new resistance
- Within the Descending Wedge pattern, price has clearly rejected this level due to the evident wick on the last 4 hour candle
Trend Analysis
Chart Patterns
Comments
cindyme123
⋅
Oct 18, 2019 8:34 AM
The Bullish Falling wedge still remains in place though, and if we dont break down, then we could very wel break higher?
Above 1494 or 1500 would be a clear break up through resistance,.... :)
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Above 1494 or 1500 would be a clear break up through resistance,.... :)