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GOLD TECHNICAL


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Ah!  We all differ on these things.  For me a line has to have minimum 3 touches to be credible on whatever timeframe.  The upper channel can have 2 only in the lower is very strong on touches and there is no other credible placement.  Either way I think we can agree that the Weekly chart shows Gold in a trading range and a breakout should be strong.  For me the likely direction is into a rally but not sure yet when.  Some good rally movement on both Gold and Silver today of USD falls and possible stock falls but will that be sustained to a breakout or is there another leg down to go yet?  Time will tell I guess.

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