Gold (XAU/USD) Price Forecast: Bullish Reversal Signals Further Gains

Rising ABCD Pattern TargetsA rising ABCD pattern on the chart marks recent swings, but considers the $4,842 swing low to be contained within the CD leg of the formation. This is a judgement call, based on the decisiveness expressed in the first leg up from the bottom. With the measurement, an initial upside target is shown at $5,345. That is where the CD advance matches the rise in price seen in the AB leg.Once that occurs, a potential pivot is identified. This target has greater significance in addition to ...