End of December last year, I posted that i was looking for a possible large weekly triangle. This seems to be at play at the moment. Gold is oversold at
the moment and could end up the "d" leg of the triangle. Bearing in mind that we most probably will have another rate hike in September, the market
might choose to bottom around that time and then start to push up for the "e" leg. Trading range until the end of the year and early next should be between roughly 1350 and 1150 ! Just food for thought.
the moment and could end up the "d" leg of the triangle. Bearing in mind that we most probably will have another rate hike in September, the market
might choose to bottom around that time and then start to push up for the "e" leg. Trading range until the end of the year and early next should be between roughly 1350 and 1150 ! Just food for thought.