Emerging Channel Up pattern in its final wave was identified on the Gold Spot 4 hour chart. After a strong bullish run, we find Gold Spot heading towards the upper triangle line with a possible resistance at 2809.6101. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
Gold Spot is quickly approaching the resistance line of a Channel Up. We expect either a breakout through this line or a rebound.
