FX.co ★ Patterns GOLD | Gold Rate in the Forex market

The Triple Top pattern has formed on the chart of the GOLD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 5504.24/5519.83 with the upper limit 5551.14/5551.80; the projection of the width is 4690 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 5504.24, the price is most likely to continue the downward movement.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 5265.92; the lower boundary 5251.88; the width of the pattern is 1330 points. Sell trades are better to be opened below the lower boundary 5251.88 with a possible movements towards the 5251.73 level.

The Double Top reversal pattern has been formed on GOLD H1. Characteristics: the upper boundary 5104.44; the lower boundary 4989.48; the width of the pattern is 11040 points. Sell trades are better to be opened below the lower boundary 4989.48 with a possible movements towards the 4989.08 level.

The Double Top reversal pattern has been formed on GOLD M15. Characteristics: the upper boundary 5099.88; the lower boundary 5073.16; the width of the pattern is 2591 points. Sell trades are better to be opened below the lower boundary 5073.16 with a possible movements towards the 5072.94 level.

The Triple Top pattern has formed on the chart of the GOLD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 5049.14/5059.85 with the upper limit 5075.30/5078.63; the projection of the width is 2616 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 5049.14, the price is most likely to continue the downward movement.

On the chart of GOLD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 5096.75; the lower boundary 5054.44; the width of the pattern 4231 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 5054.29 level.

The Double Top reversal pattern has been formed on GOLD M5. Characteristics: the upper boundary 4987.47; the lower boundary 4975.35; the width of the pattern is 1228 points. Sell trades are better to be opened below the lower boundary 4975.35 with a possible movements towards the 4975.20 level.

The Double Top pattern has been formed on GOLD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 4923.31 is broken, the downward movement will continue.

The Double Top pattern has been formed on GOLD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 4937.77 is broken, the downward movement will continue.

According to the chart of M15, GOLD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 4838.21 and support 4810.30. In case the resistance level 4838.21 - 4838.21 is broken, the instrument is likely to follow the bullish trend.