Stock Technical Analysis: Gold (GLD) Breaks Out of Triangle Continuation
SPDR Gold Trust (GLD) broke out of its symmetrical triangle continuation pattern today. This is definitely a good news for the bulls holding their long position. It’s still too early to say whether this will hold or not, but I am going to keep an eye on gold for the next few days. If this break out is real, I’m looking to go long here. I’ve been patiently waiting for GLD’s break out, and I’m ready to take advantage. Now, it would be better if you know the ins and outs of buying and selling gold before you jump into the business. So make sure to do your homework.
For the explanation of symmetrical triangles, go here.