Some of you folks may remember the GLD chart that I posted just before Christmas, see analysis paradise, Rambus TA Compendium under Rambus GLD halfway triangle breakout gap, the last time we broke out with a gap. Today looks almost identical to triangle #2. Triangle #3 measures out to about 102 which would put gold over 1000. Another rally phase is just getting underway with today’s breakout gap that should look similar to the last rally phase from triangle #2. Also notice how we are breaching the all important resistance at 850 with one triangle just beneath resistance at 850 and now we are completing another triangle pattern just above the all important 850 resistance, very bullish IMHO. Stay tuned as this little correction should be over and a new day is dawning.
All the best…Rambus
gldddbort.png
Putting this little triangle breakout into perspective.
gold-weeker.png

FGC, I found Analysis Paradise very useful this morning as I was wanting to show a chart of the last triangle breakout and then remembered Analysis Paradise. Bingo, there it was. Thanks for keeping it up as it is a very good way to checkout past work…Rambus

Rambus GLD Halfway Triangle Breakout gap
arch0708.goldtent.net/2007/12/21/gldbreakout-gap/