#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.