Despite muted follow-through, gold’s breakout from last week remains intact, with consolidation inside a bullish pennant suggesting rising odds of an eventual continuation toward new record highs. {video} Gold pulled back to a low of $3,320 on Tuesday, as it tested support around the 50-Day MA, now at $3,323. This followed a four-line upside breakout last Friday when the combination of a 20-Day MA, 50-Day MA, an AVWAP line, and a short downtrend line (dashed), were exceeded. The breakout was confirmed with a daily close above the top of the range on Friday and again on Monday. Also, an interim swing high at $3,366 ... (full story)