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Mysterious Triangles

By: SilverStrategies.com


-- Posted 3 January, 2007 | | Source: SilverSeek.com

12/29/2006
SilverStrategies.com

SILVER:
Here is the classical chart formation: - price decisively moved above the pattern and then pulled back to the support created by the same triangle's side.

 

 

GOLD:
Very similar development is observed for yellow metal, and now we just have keep an eye on the key support line.

 

$XAU:
The index spent 12 months drawing the "Descending Triangle" pattern and after the up-side Break-Out it has a potential to continue its bullish move. However one always has to pay attention on the support and resistance areas for the confirmation.

 

$HUI seems to be in tandem with $XAU.
 


-- Posted 3 January, 2007 | |


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