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Gold ‘triangle’ signals price drop to $1,250: Technical analysis

Posted on 12 June 2013

Gold is set to drop to the lowest level since 2010 after forming a symmetrical triangle, according to technical analysis by Bank of America Corp.
Bullion for immediate delivery will drop to as low as $1,250 an ounce over the next month after the “well-defined, symmetrical triangle” it formed since April 16, MacNeil Curry, chief of rates and currencies technical strategist at Bank of America in New York, said by telephone yesterday. That would be the lowest level since September 2010………………………………………..Full Article: Source


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