2009-09-02

Gold 1d and 4h

Gold 1 dayDaily chart have a massive triangle (brown). The triangle may be broken now and may be the move to $1,200 has begun. However because of "massivity" we can not be sure if triangle is broken.

Gold 4h4 hours chart - blue lines shown the old rising channel. It is clearly broken @ ~966. Now price consolidating around the resistance of the parallel blue line. Note this line is higher than the triangle line from daily chart (brown).

It is extremly important what gold will do tomorrow.

Disclosure:
Sold my speculative possition @ 963. Looking to buy @ 651 or less.

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