FX.co ★ GOLD M5: Bearish pennant

The Bearish pennant pattern has formed on the GOLD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 4839.03; the projection of the flagpole height is equal to 2174 pips. In case the price breaks out the pattern’s bottom of 4839.03, the downtrend is expected to continue for further level 4838.88.