Meant to post this 5 or six days ago while the range was forming but didn't get round to it.
Bottom of recent trading range formed at precisely the support/resistance level from the close at the peak back in March 08.
Bullish wedge has been forming for a long time and you can clearly see it has morphed into the trading range from which it has broken out on heavy volume.
Personally I favour A$Gold over US$Gold in the intermediate term. Just cant see the Fed letting gold blow though resistance without throwing some serious weight at it. Bill Cara's comments in this respect are worth a browse, here
2 Year
YTD
Bullish Wedge and trading range
FWIW I took a position on the open of the breakout day and will add more on confirmation of the next two swing lows.
gold.asx breakout
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