Emerging Rising Wedge 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 2832.6282. If the resistance shows to hold, the Rising Wedge pattern suggests a rebound back towards current levels.
Gold Spot is quickly approaching the resistance line of a Rising Wedge. We expect either a breakout through this line or a rebound.
