A couple of days ago, I tempered my bearish view on Gold by presenting a 30-minute chart. The sideways movement appeared to me as the beginning stages of a complex correction. Unfortunately, while the correction was “complex” in text-book terms, it didn’t quite recover sufficiently to give us another chance to shout “sell”. This is typical of complex corrections. It could take any form and turn with a speed that catches even an experienced trader off guard. The complex pattern that Gold traced was a symmetrical triangle. Here is the chart, with some comments written on it.
