Gold did break the flat side of the triangle and the follow through was pretty strong, as it usually is in these kind of technical setups. I sliced the bigger triangle (which was an imperfect one since it had been quickly broken once) into a smaller one which better reveals the technical setup.
Now it remains to be seen which of the supports will hold this correction (it is a correction, right?:)). So far, most of the markets seem to trend short term within their respective correlations..the commodities are falling (silver, copper, oil, natural gas etc.) and the dollar is strengthening. I believe this is just a corrective movement in the markets before returning to the weak dollar and strong gold theme. But the markets are always right and my belief may be wrong:))
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