Home > Commodities and Rates, Short-Term Trader > Gold Triangle Indicating Explosive Move Is Imminent

Gold Triangle Indicating Explosive Move Is Imminent

Gold has built a very well defined triangle pattern over the course of the past month. The pent up price action should resolve anytime now. Given the range of the triangle, a $70 move is in the cards – or $7 in GLD. The prevailing trend is up so I expect an upside break to occur, however; I will wait for confirmation before making any moves.

GLD

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