I have to admit that like the equities markets and other financials, Gold has recovered more than I expected. I had thought the 1700 level, being a previous support level, would now provide heavy resistance.
However it powered through that and in doing so tossed my idea of a rising wedge out the window. The move still looks corrective to me and rather than a contracting pattern it looks more like a flag type pattern with parallel boundaries. The next major move should still be down out of this pattern but only a break of the line will confirm.
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