Monday, 6 August 2012

Gold is again testing triangle trend line

Gold is once again testing for a bullish break through the top triangle trend line. A kiss goodbye before turning lower? Or a prelude to a genuine break higher?

USD/MXN bearish trend line break

So far the bearish trend line break has only succeeded in setting up a possible double bottom with the July low, which in turn could be setting up a false trend line break. Unless today's low breaks....