Feb 14, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

The Daily Triangle Strangle In Gold - Higher Or Lower « Corey Rosenbloom »

Posted: 14 Feb 2010 09:45 AM PST

There are converging trendlines evident on the daily chart of gold, and I thought that structure would be worth a closer look.

Here is a quick 'chart view’ of Gold’s daily 'triangle:’

Starting with the July lows and connecting those in August and February, we see the lower trendline as drawn, which ends at the $1,070 level.

It’s worth noting that - although I didn’t show it - the $1,050 level is the 61.8% Fibonacci retracement of the July lows also - and a long-legged doji … [visit site to read more]
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