It has been a long time I didn’t post about gold price (where gold price in uptrend until today due to Egypt riot). And now we can see a possibility of where gold price will be bearish. I am standing on diagonal triangle pattern or rising wedges pattern at 4 hour timeframe. This analysis might be right, might be wrong. So trade on your own risk.
Below is the latest chart of gold price.
Currently it is testing upper trendline on that wedges or triangle pattern. And also testing its 168% fibonacci expansion. If valid, then gold price will going down.