Parallel channel in blue, small bearish wedge in brown. Price is @ the top of the channel and must decline to the bottom.
Gold 4h
Same channel as on 1hour chart in blue. We can see how the bottom boundary acted as resistance for a while before price rise.
Big bearish wedge - top blue, bottom - brows is formed. Price objective of the wedge is $1,000.
Short term targets - $1,110 and $1,102+.
Best development will be price to fell to 1,103 area and then to rise to upper blue line. This will invalide the wedge.
Disclosure: looking to buy at $1,108, then at $1,103.
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