Gold moved in a narrow $4 range yesterday, as the "flat topped triangle" chart pattern draws towards a conclusion.
We expect this pattern to resolve with a strong upside breakout, as is usually the case, though the light holiday trading should continue to cap prices this week. Options expiry on Tuesday may see some volatility return to the market.
Key resistance is at 1738 and with the 50 DMA just above at 1743, it is not surprising that the market has stalled in this area.
For our subscribers at www.goldtradingexperts.com, today's video looks at the triangle chart pattern in more detail and previous examples of the same chart pattern.
We expect this pattern to resolve with a strong upside breakout, as is usually the case, though the light holiday trading should continue to cap prices this week. Options expiry on Tuesday may see some volatility return to the market.
Key resistance is at 1738 and with the 50 DMA just above at 1743, it is not surprising that the market has stalled in this area.
For our subscribers at www.goldtradingexperts.com, today's video looks at the triangle chart pattern in more detail and previous examples of the same chart pattern.