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TFC Commodity Trading Forum

Gold/Triangle Breakdown/Approaching Support *PIC*

Gold broke below its Symmetrical Triangle in classic fashion and is typically plunging sharply. Price is now approaching major support at 1577. While a breakdown could easily plunge much further than this the 1577 area is a significant price support area where price could stabilize for a decent trade. You pays your money and takes your chances. Note in August price also plunged through its 200ema and rebounded.