Wednesday, April 5, 2017

Gold (update)

Gold is forming a possible symmetrical triangle pattern.  If we get a close above 1263, then it will be confirmed.  This, combined with the active flag pattern, a possible supershallow MM pattern, and a possible neutral MM pattern makes for a very interesting market to watch.  A move above 1268.10 could really trigger a big move to the upside.  Next area of resistance would be the monthly R1 @ 1277.60


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