Gold has an early indication of potential breakout rally
The week ended with Gold going nowhere, but early indications suggest a possible potential breakout rally.
Compare the current setup with the previous setup and entry (white arrow), the technicals appear similar yet again, as well as candlestick pattern shows a bullish harami... just like a coiling pattern.
Having said that, being very wary about this imminent (and yet to be confirmed breakout) as the higher time frame suggest a toppish area about 2100, and an expected handle pattern to form (faint yellow line).
Meanwhile, the breakout range spans 1930 to 1980.
Perhaps other aspects might be giving some insights, especially the USD?
Watch for it.
Compare the current setup with the previous setup and entry (white arrow), the technicals appear similar yet again, as well as candlestick pattern shows a bullish harami... just like a coiling pattern.
Having said that, being very wary about this imminent (and yet to be confirmed breakout) as the higher time frame suggest a toppish area about 2100, and an expected handle pattern to form (faint yellow line).
Meanwhile, the breakout range spans 1930 to 1980.
Perhaps other aspects might be giving some insights, especially the USD?
Watch for it.
