Gold: Keep an Eye on This Wedge Pattern

From dailypriceaction.com

On Sunday I mentioned the consolidation on gold may have come to an end last week. Friday’s rally suggested that buyers were ready for the next leg higher. I also wrote that a daily close above 1320 would secure the breakout and expose the next key resistance near 1350/60. Some of you were a bit confused about how to play this one. But breakouts like this are incredibly straightforward. I think the issue is that many traders tend to overthink things. Monday’s 1326 close on gold confirmed the bullish breakout. And as you can see from the chart below, Tuesday’s session retested 1320 as new support. It didn’t ... (full story)