3 Faces of Gold but all have the same sentiment (big picture)...

5 thg 1, 2022

Gold shows 3 faces for me a wedge, ascending channel, and pennant, all bearish. As seen in this chart, these are the 3 scenarios that I can see playing out with black serving as the accumulative flat to 1900, with red as the ascending channel reaching the 1900 levels, and a bearish pennant, supposedly having this current level as the trigger for it to descend down to 1600+ levels. For you, which structure do you think gold will follow?

Disclaimer: This is for educational purposes only.