a multy year Pennant is about to end right now.
The chart reflects that gold looks to be in pennant pattern (Lower highs & Higher lows) that is about to end pretty soon.
According to Forxetribe here are some statistics about the pennant pattern:
– In 75% of cases, the exit is made in the side of the previous trend
– In 90% of cases, this is a continuation pattern
– In 55% of cases, the target of the pattern is reached
– In 16% of cases, a pullback occur
The chart reflects that gold looks to be in pennant pattern (Lower highs & Higher lows) that is about to end pretty soon.
According to Forxetribe here are some statistics about the pennant pattern:
– In 75% of cases, the exit is made in the side of the previous trend
– In 90% of cases, this is a continuation pattern
– In 55% of cases, the target of the pattern is reached
– In 16% of cases, a pullback occur