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FX.co ★ GOLD M5: Bearish Rectangle

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Technical Analysis Patterns

2024-12-18T18:43:42
Signal strength 1 of 5

GOLD M5: Bearish Rectangle

Bearish RectangleAccording to the chart of M5, GOLD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 2639.48 - 0.00 and support 2632.62 – 2632.62. In case the resistance level 2632.62 - 2632.62 is broken, the instrument is likely to follow the bearish trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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