Breakout Or Disappointment
For the last 10 days, gold hasbeen in an uptrend inside of a consolidation pattern. The question is: Willgold finally break out to the upside or will it just be more disappointment?
There is no obvious answer. Throughall of the high volatility in the equity markets, gold has been unable to breakout to the upside, as buying has failed on a couple of attempts to do so. Thepattern being formed right now is critical to the next big move in gold. If itdoesn't break out from here, it could be headed lower.
Gold is now in an ascendingpattern and is poised to break out to the upside; however, with a higher dollarand investors feeling a little riskier, failure could be upon us. There is alot of uncertainty in the worldwide economy, which should be bullish for gold.The question is -- breakout or disappointment?
Keep those stops tight.
Contributing tokitco.com
Follow @Bubba_Trading
Bubba@bubbatrading.com www.bubbatrading.com/ Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.