Gold closed on Thursday, forming a bullish flag pattern
on an hourly time frame.
The flag reflects a correction that the market started after a completion
of a strong bullish wave.
A breakout of its resistance line and a candle close above will signify
a highly probable resumption of the trend.
With a high probability, the price will move up at least to a current ATH.
(Remember that the price may respect a trend line one or several times more
and a correction can be more extended, that is why we rely on a breakout of a reliable trigger).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.