XAUUSD Trade Projection
Timeframe: 4hr
Technical Outlook: Ascending Broadening Wedge
the ascending broadening wedge is often known to form in continuation trends, and when invalidated results in trend reversals. But it also forms at beginning of trends signifying trend expansion, and buyers are beginning to gain dominance after a sustained bearish trend.
For GOLD, A break above the 4135 price level, and there will be a strong rally to 4251. invalidation of the ascending broadening wedge before we can expect any strong bearish move.