Tuesday, April 24, 2012

Wedge Forming in Gold

I've mentioned before on the blog that there are a few formations that bring out the closet technician in me.  One of them is a wedge, because it must resolve itself one way or the other.  There happens to be a significant wedge that's been forming in gold over the last several months that pits the long term trend against the lower highs that have been made since September.  To cap it off, the formation is culminating just in time for the Fed to speak tomorrow.  Could be an interesting show...

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