May 1, 2012

GOLD Triangle update


  • Gold weekly chart in a triangle pattern.
  • Price is trading inside the weekly cloud. Price may continue in the direction of the breakout from the cloud. Price taking support at the base of the cloud shows a possibility of an upper breakout.
  • Gold will be weak below  1623 and 1612 and strong  above 50 day SMA.

No comments:

Post a Comment