Gold's triangle pattern will be key tell for miners

  • Jason Goepfert

    Jason Goepfert

    Published: 2020-09-18 at 13:18:10 CDT

Over the past 30 days, gold has not made a 30-day high OR a 30-day low. It's just kind of sat there, forming a consolidation 'triangle pattern' after setting new highs in August. Prior triangles typically resolved to the upside, but the next couple of weeks proved key. This is a big tell for miners, which are also consolidating after one of the most overbought readings in decades.

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