The MasterCharts: #Gold - Short-term triangle formation- Expect Big #Volatility
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Gold & Silver 24 hr Spot

24 Hour Spot Gold 3-Day Overlay 24 Hour Spot Silver 3-Day Overlay

Note: Green is today (or last trading day)

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Wednesday, February 24, 2016

#Gold - Short-term triangle formation- Expect Big #Volatility


As the attached gold spot chart shows, a short-term triangle formation has been formed.

The RSI (Relative Strength Index) is falling. The Relative Strength Index compares the magnitude of recent gains to recent losses in an attempt to determine overbought and oversold conditions of an asset.

 

The MACD (lower chart) is flattening out. With the expiration of the March gold futures contract coming up, we just might witness huge volatility in the gold price.

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