GOLD - Breaks Out On Weekly Candle! ✨

GOLD finally breaks out of the contracting triangle to the upside!

With a complete weekly candle outside of the triangle it is very likely to be a real breakout and not a fakeout.

And over the next little while we'll be able to see just how impulsive it is.

It could potentially be quite a pump here with pressure having been built up within the contracting fractal .

However price has had MANY touches on that lower rising trendline and I think there is a very good chance it will be returning for another touch in a re-test after the impulse concludes.

And price is still within the greyed trading range. It could be quite interesting if it does get above and perhaps the bull market is actually on the cards.

Fib targets show potential topping areas. Perhaps GOLD can get up to 1950 right here.

But I'll be patient and see - I will be buying GOLD on any touch of the lower trendline.

And well done to the more committed goldbugs, looks like your asset will be heading higher, and who know maybe dizzy highs are coming down the road.

Not advice.