A well-known bullish technical pattern is now visible on the daily gold chart
Looking at the daily gold chart, a bullish technical pattern is nearly fully formed so a breakout is due soon. A Bullish Pennant pattern is a short-term consolidation pattern that is formed by support and resistance merging. As these two lines close, a breakout occurs. If this pattern plays out, the price of gold could move considerably higher.Retail trader data 43.48% of traders are net-long with the ratio of traders short to long at 1.30 to 1.The number of traders net-long is 5.
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