gold, page-46110

Dr H
You call this a ‘basing pattern’ which may be because you have a positive side bias. The chart is really showing a consolidation pattern. These frequently provide trading opportunities however the breakout could be down or up. Despite the enthusiasm of Team Andy over the high AUD Gold price the real story is the very weak AUD. The POG in USD , GBP and other currencies has gone nowhere. The USD has been a lot higher in the past than it is now: could that happen again? Certainly could imo, and if so the USD Gold price could go lower...ie; breakout to the downside.