Given the long-term nature of this pattern, gold has reached a potential pivot level that could lead to a retracement and end the current sharp advance, at least for the near-term.

The ABCD pattern was first identified and mentioned by H.M Gartley in his 1935 book “Profits in the Stock Market,” but it was later further popularized by the trader and author Scott Carney in ...

In addition, there is a falling ABCD pattern developing in natural gas starting from the recent trend high at 2.88 and ending at 2.57. Where it completes is a potential pivot level.