Breakout Setup in Gold Futures

by Scott Hoffman on July 10, 2009

Gold futures had a big breakout day selloff Wednesday, which pushed it through the 69/23 low at 913.20. It recovered some ground yesterday (breakout moves often reverse direction the following day), then it consolidated today. This left today an inside and narrow range day, along with a doji. To my eye, it looks like a small triangle has formed. Look for a breakout move on Monday.

Breakout setup ahoy!

http://www.futuresinsightblog.com/looking-at-the-triangle-in-gold-futures/ Looking at the Triangle in Gold Futures | futuresinsightblog.com

[...] moderate them, so they may not appear immediately. Thanks for visiting!As I pointed out Friday (go here), gold futures had a breakout setup today. In addition, it had formed a triangle on the daily [...]

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