XAUUSD - Pennant/Wedge
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.
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.
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