XAUUSD: Sell signal on Rising Wedge completion.

Gold is about to complete a Rising Wedge pattern on 4H (RSI = 65.915, MACD = 6.160, Highs/Lows = 2.7286) which is followed by a moderate decline (-1.58% and -1.48% in succession) based on its previous candle volatility. With 1D still on an aggressive buy action (RSI = 74.395) this is expected to work as a technical relief pull back on overbought data (STOCH = 84.099, Williams = -6.573, STOCHRI = 100.00), and we project that it will find support near 1,271 (based on the declining drop rate of the previous pull backs).





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