What Will It Take For Gold To Break Out Of Range?
Consolidation continues to reign inthe metals markets as they go up and down within a range. The big questioncontinues to be: what will be the catalyst to break the metals out of theseranges?
There are several things thatcould do the trick -- the unrest in the Mideast and Syria, or the strength orweakness of the dollar, which remains in the same torturous congestion patternas the metals. Only the shadow knows what event the markets will react to andbreak them out of these ranges.
This week, we saw a big up moveon Wednesday and a big down move on Thursday, only to end up in the same place whereprices started. This is the story of consolidation, which is the toughestpattern to trade. There is a big move coming. Direction is unknown and becausemarkets don't announce themselves, one day it will just show up.
Contributing tokitco.com
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