In February I posted indicating that gold had broken a long term down trend line. If you look at some of my even older charts you will see that my best guess in that longer term we are likely forming a large consolidation (triangle?) before a major final up move in gold months to years from now. Anyway shorter term notice that the breakout was on rising volume. We have now a positive reversal in the RSI (dashed line in the RSI: price is down less than the RSI suggesting that price is stronger than the indicator) which often leads to a higher high in price. So I am looking for more rise in gold to the resistance area then would not be surprised to see a correction. Hope you are having a great weekend. Goodguy. Feedback appreciated.
