Sasha Singh
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XAUUSD : Rising Wedge Giving A Bearish Signal

Today Gold prices are rising higher as investors continue to keep an eye on Ukraine crisis and on the health of China’s economy which support the demand for safe haven. However the gains are limited. On the hourly chart of Gold (XAUUSD), it seems like the pair is giving bearish signal as seen through the rising wedge. A rising wedge shows that the pair might break the support trend line any time and reverse its uptrend to downtrend. Also there is a key resistance at 1351.65 and pair might come down from this level.