After once again trading to a new all-time high last week, the price of gold has seen a notable pullback over the last few days and is now trading back below its highs from last year. When the metal pulled back at the start of the year, a lot of chart watchers were calling it a triple-top.
The pullback was short-lived, however, and by last week it looked like gold bulls were going to have the last laugh when new highs were once again made. No sooner than they could pop the champagne, though, gold has broken right through that former resistance line. While the comparison isn't perfect, gold's pattern is beginning to look a lot like an arcane chart pattern referred to as three peaks and a domed house (see chart below).
The pullback was short-lived, however, and by last week it looked like gold bulls were going to have the last laugh when new highs were once again made. No sooner than they could pop the champagne, though, gold has broken right through that former resistance line. While the comparison isn't perfect, gold's pattern is beginning to look a lot like an arcane chart pattern referred to as three peaks and a domed house (see chart below).
See the original article >>
No comments:
Post a Comment