GOLD - Bullish Flag on Weekly TF
Last week, Gold showed a strong performance with a 3.13% gain, closing above the bullish flag pattern that had been forming. This breakout is a significant technical signal, suggesting that the bullish momentum could continue.
Additionally, the weekly chart displays a Marubozu candle, which is a strong bullish indicator. A Marubozu candle typically means there was consistent buying pressure throughout the week, with little to no selling pressure. This adds to the bullish sentiment, indicating that buyers were in control.
However, while these indicators are positive, it's important to remember that no pattern or indicator guarantees future performance.
Additionally, the weekly chart displays a Marubozu candle, which is a strong bullish indicator. A Marubozu candle typically means there was consistent buying pressure throughout the week, with little to no selling pressure. This adds to the bullish sentiment, indicating that buyers were in control.
However, while these indicators are positive, it's important to remember that no pattern or indicator guarantees future performance.
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