In the 15-minute time frame, we are seeing a bullish pennant forming on gold. If we project the move from the bottom to the top of the pattern, our target aligns with the pink resistance zone. It’s important to be cautious as the price approaches this zone. If you are in a long position, it could be a good time to consider reducing your exposure when the price reaches this resistance area.
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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.