Gold has FINALLY broken out of its converging triangle by a significant margin. The breakout isn’t confirmed yet, but if Gold can close above $1360 today, then I think it will be a very strong indication that the breakout is real.
The converging triangle has been a prison for Gold for the last 5 years.
The general trend for Gold is a permanently bullish price increase. This is due to constant demand and the natural scarcity of the metal. A logarithmic plot shows how Gold broke away from a 12-year price trend in 2012, and has been lying dormant ever since. I
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