ForeCastle

Gold prices have been consolidating in sideways fashion for the past month. With limited new information from the Fed regarding the status of the next rate hike, gold prices have found a comfortable range to trade in.



Technically speaking, this range could be taking the shape of a triangle. This pattern suggests we’ll look for lower levels to buy into. It is not uncommon for prices to briefly penetrate the triangle’s trend lines. Therefore, the risk can be set off the July 21 low near $1311.

[image]

more...