Jordan Roy-Byrne: There is no Triple Top Pattern in Gold
The Daily Gold, Released on 4/24/23
Biased Gold bears are grasping at straws. They see three tops in Gold and immediate conflate the price action with a bearish topping pattern when there is nothing of the sort. Triple tops are distribution patterns. They build up after a long advance and much like head and shoulder patterns, the third top tends to be lower than the previous high or both highs. Remember, there are important characteristics to these patterns. Just because price action looks like a pattern does not make it so. Recall our videos on the non bull-flag and non cup and handle pattern in Silver.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.
Jordan Roy-Byrne: There is no Triple Top Pattern in Gold added by Herman James on 04/23/2023View all posts by Herman James ?+'