Gold Price, Crude Oil Price: Breakouts Ahead of Fed Rate Decision

From dailyfx.com

After trading in a symmetrical triangle for the last couple of weeks, gold has finally broken higher just ahead of the FOMC rate decision later today. We have looked at this set-up recently and mentioned that an upside break was on the cards, but we felt that it was more likely to happen post-FOMC meet, when the rate decision and possible forward guidance was known. While the move is technically positive, it may be reversed post-FOMC if the Fed disappoints, so care is needed. If the move higher continues, gold is set-up to re-test the recent 6+ year high of $1,453/oz. made of July 18. IG Client Sentiment data show ... (full story)