GOLD - Supposed H + S "break" may be about to fool bears again?.
- I posted a chart earlier pointing out what I believe to be a very similar descending wedge pattern, when compared to the previous successful one.
- I also noticed that during the previous ascending wedge's initial formation we saw what looked like a H + S bearish reversal pattern forming
- This pattern then appeared to break to the downside, only to go on to rally $270
- Once again..during the initial formation of what I believe to be an descending wedge pattern, we appear to have formed a H + S bearish reversal pattern
- This pattern now appears to have broken, but in my eyes has simply reached the lower descending trend support of the wedge pattern.
** I will be very interested to see if history repeats itself and goes on to fool bears once again..or could this be the real deal?
- I also noticed that during the previous ascending wedge's initial formation we saw what looked like a H + S bearish reversal pattern forming
- This pattern then appeared to break to the downside, only to go on to rally $270
- Once again..during the initial formation of what I believe to be an descending wedge pattern, we appear to have formed a H + S bearish reversal pattern
- This pattern now appears to have broken, but in my eyes has simply reached the lower descending trend support of the wedge pattern.
** I will be very interested to see if history repeats itself and goes on to fool bears once again..or could this be the real deal?