Gold – No Clear Signals Yet

23 MAR - Gold Weekly Forex Chart

(Click on image for larger view) 

Hi Traders,

Above is the Gold on a weekly chart. Looking at the big picture, price has not been showing much direction. While price is moving with lower lows and lower highs, price seems to be narrowing into a wedge pattern. In fact, that’s a clear consolidation pattern.

How long more will price continue to range within that wedge? No idea. However, don’t lose your patience or you might get beaten up by it.

Thank you for reading and happy trading.

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