empty
 
 
16.05.2023 04:10 PM
Triangle pattern in Gold for May 16th, 2023.

This image is no longer relevant

Red line- upper triangle boundary - resistance

Green line- support trend line

Gold price is trading around $2,008. Price has formed a triangle pattern in the near term with price so far respecting the triangle base support at $2,000. Price has been forming lower highs so far creating the upper triangle boundary. Resistance is now found at $2,014. So far support at $2,000 has been tested three times and all three it was respected. I do not expect to see a fourth test of the support trend line. This is a bearish descending triangle pattern and the lower highs suggest that bulls are weakening and each time price bounces, they are unable to surpass the previous high. Failure to hold $2,000 will open the way for a decline towards the next key support at $1,970-77.

通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback