All Info On Chart Values: First Target : 1.16770 Second Target: 1.1740 Stop Loss Area: 1.1530 - 1.1570 !Not a financical advise!
Most of the information is given in the graph. Fast overview: The upside triangle should result in an increase from 8.66 to 8.84 for two to three weeks. Next, there are two possible developments: the first is that the price will go further, to values around 9. At this point the paths are also divided. The price can enter the channel formed by two...
The gold broke through the resistance level at 1815, which means that there might be a second rising wave. The price is now at the first resistance level of 1825-1830. It has to pass that level, and then (if it happens) the first target will be 1865-1875. This might be followed by a pullback to the average values (between the current level and the first target). ...
Rollback from the higher values of the channel to the lower ones.
Possible breakdown of the descending channel, on the way out of the expected pattern diamond. The first target is in the area of 40 thousand. The price can consolidate in this area.
The situation is as follows, the pattern is a bearish flag, which is likely to end with a bounce from the upper edge of the pitchfork, then the movement to the bottom.