Gold Is Forming A Golden Triangle. Major Breakout Coming?
By GCRU Gold News on Monday, May 19 2014, 07:37 - Permalink
As the daily chart below shows, the yellow metal has been putting in a series of lower highs and higher lows over the last month, creating a textbook symmetrical triangle pattern. This pattern is analogous to a person compressing a coiled spring: as the range continues to contract, energy builds up within the spring. When one of the pressure points is eventually removed, the spring will explode in that direction.