FX.co ★ GOLD M5: Bearish Symmetrical Triangle

According to the chart of M5, GOLD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 4877.97/4929.24 and upper border is 5003.64/4929.24. The pattern width is measured on the chart at -12567 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GOLD breaches the lower border, the price could continue its move toward 4929.09.