- Last chart the weekly time frame shows a possible rising wedge pattern. Price for now is staying outside the pattern. If price falls back into the pattern then it may affect the Bullish trend in daily and lower time frames.
- False spikes out of Rising wedge usually lead to fast moves on the opposite side. so its crucial for google bulls to keep price outside the Rising wedge as it is now.
- Daily chart is testing a resistance line as shown in first chart.
- Crucial support area to keep the bullish trend intact in daily time frame is 838.
- GOLD Trend update
January 27, 2017
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.