Spot Gold ($GOLD) forged a Double Top Breakout with a surge this month, but remains well short of a bigger breakout that could have medium-term consequences. Notice that February X-Columns marking resistance at 1615. A break above these would forge a Triple Top Breakout and be medium-term bullish for bullion.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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