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What Happens in Gold after a Bear Pennant Chart Pattern?

A Bear Pennant pattern is a bearish continuation pattern - This is a market signal which highlights the current trend is taking a pause before resuming the current down-wards direction of the price gold.

If the Bear Pennant downwards continuation pattern occurs, it signals that the market is pausing before continuing the current downwards trend. A Bear Pennant continuation pattern in a downwards trend is like a falling flag, signaling that the price is stable but keeps going lower, creating a chart setup that looks like a falling flag. Traders should wait for a confirmation signal of the Bear Pennant chart pattern setup before opening a trade based on this bearish continuation chart pattern. Once the price breaks to the downside, the Bear Pennant continuation chart pattern is confirmed, and prices will keep moving in the direction of the current downwards trend.

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