Gold Price-Still a (Bigger) Triangle?
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-“Bigger picture, gold completed a diagonal pattern (wedge) the week of February 12th. The objective from the pattern is the origin of the diagonal, which is 1392. 1307 is a good candidate for failure however.” I’ve been ‘thinking’ that a triangle is underway from the 2/11 high. This remains a possibility and triangle support is 1215/20.
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.