Gold Price Forecast: Gold Threatens Election-Night Breakout

Gold Price Forecast: Gold Threatens Election-Night Breakout

Gold Price Forecast:

Gold Prices are testing trendline resistance, threatening to breakout of a falling wedge pattern that’s been building for the better part of the past four months.

While much attention is focused on the US election, the rest of the week brings heavy potential for volatility with Thursday’s FOMC rate decision and Friday’s NFP .

The analysis contained in article relies on price action and chart formations . To learn more about price action or chart patterns, check out our DailyFX Education section. It’s now almost four months ago that Gold prices had topped-out, which might be hard to believe given just how loud that move had become. While bears were tough to find back in early-August, the backdrop has shifted in the almost four months since as Gold prices have continued to coil in a falling wedge pattern after setting that fresh all-time-high.As looked […]

About the author: StockMan

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