An Impending Golden Breakout...
The last eight weeks had been nothing short of exciting, or painful to some. Meanwhile, let's look into a potential asset class/sector that could be the next to move... UP. Gold is one that appears to be coiling for a spring up. Having consolidated after a downtrend since September, gold indicated a slight bullish effort during the current correction in most asset classes. This effort was retested and it appears to be coiling for the next level move, upwards. While it is not ripe yet, the MACD, and EMAs are beginning to show some bullish indications, as we move into the gold high season of December to February. Watch for the breakout of the trendline resistance and clocking a new high above 1240.
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