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GoldBroker
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This week, we'll change things up from our usual analysis on longer term charts and instead focus on the short term to see if there are any clues about where gold and silver are headed next. We'll start with a 4-hour chart of gold and see that it has created a triangle consolidation pattern since making its all time high back in October, 2024. Many of you will recall that gold was on an absolute tear last year, rising more than 20% over the five months leading into the all time high near $2,800, so it is actually pretty natural, healthy bull market behavior to see gold consolidating those gains. The chart shows us that gold has broken out of its consolidation pattern, but I would not be surprised to see a backtest to the mid-$2,600s before it begins its next leg higher over the next few months. Silver's picture is similar to gold, though its triangle is a bit cleaner with more touch points. Silver also appears to be backtesting its triang...
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