Gold - Symmetrical Triangle
GOLD:
Gold appears to be forming a symmetrical triangle chart pattern. A symmetrical triangle is usually a continuation chart pattern. Since the prevailing trend was up, the likelihood is that it may breakout from the upside. Expect big move in the forthcoming weeks.
STOCK MARKET:
A stated in my post last Saturday, I was bearish bias this week. As it turns out, STI fell 4 out of 5 trading days except Wednesday. I will post my next analysis on the stock market by this weekend. I think next week should have buying opportunity.
Labels: Market Direction
posted by Market Wizards @ December 09, 2011
