This has potentially created a giant triangle of which could come to a climax at the end of the year at the FED decision in December.
Once the world calms down and understands what a Trump presidency will involve gold -0.68% -0.70% could break out of this triangle at the end of the year.
The majority of Trumps plan involve massive deficit spending which coupled with the FED looking for any reason not to raise interest rates will ultimately stoke massive in the future. This is positive for GOLD -0.68% -0.70% .
If GOLD -0.68% -0.70% holds at the 240 MA and shows a potential bear trap I will look to buy.