CapitalHubs

Gold In Triangle Consolidation

AMEX:IAU   ISHARES COMEX GOLD TRUST
812 3 1
Last three months gold             traded in triangle and thus consolidating. Exit from this technical figure has two outcomes – braking up or downward. Usually the following move coincides with the triangle height (in our case approximately $300). The bullish move the target is $1950, while the bearish - $1300.
What direction do you expect ?
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CapitalHubs paulmcgregor
The direction is already clear after price closed below the triangle and 200MA.
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Moving really close to the green line. Are you still expecting in at 19.5?
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