This is a syndicated repost published with the permission of Gold Traders Almanac. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
This week the price of gold pushed above the upper trendline of the golden triangle. However now it has paused and is consolidating just above it. Within our golden triangle is another pattern called a complex, inverse (or bottoming) head and shoulders formation. I have marked the key features on this chart:
This structure has a smaller head and shoulders embedded within a large head of […]
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