Gold Spot was identified at around 3281.72 having recently rebounded of the resistance on the 1 hour data interval. Ultimately, the price action of the stock has formed a Falling Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 3237.8806 level.
Gold Spot is signaling a possible trend reversal on the intraday charts with price not breaching resistance.
