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"Gold"en pennant in play for bulls

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Last week, we took a look at the fundamental outlook for gold, noting that the direction of the metal is heavily dependent on changes in real interest rates and the US dollar. Today, we wanted to examine a near-term technical pattern that could help traders capitalize on an imminent breakout. For any long-suffering Chicago Cubs fans who may have forgotten, a “pennant” is the triangular flag given to the winner of either the American or National League champion in Major League Baseball (MLB).

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