XAUUSD - New bull market or end of a trend?

Weekly chart seems to suggest a long term triangle formation that should now be complete (E)

Triangles form at the end of a trend or are found as continuation patterns. In this case it could be a continuation pattern from the $1900 high correction. If so, much lower prices should follow below $1000

* A sustainable break above the top triangle trend line will of course void this theory and any short positions for now.

Kommentera:

The sharp breakout above the top triangle trend line and break above the 2016 high at $1375 has ruled the long term triangle theory invalid. We will be going long now on junior mining stocks for the potential of a new bull market in Gold.

* For a new bull market in Gold, I would like to see new highs being achieved fairy quickly and a test of the all time high at $1900