This Month should see gold break out of it's descending wedge

Since the start of September Gold has been in a descending wedge, but since the start of december it has also been in a ascending triangle, I see Gold going in one of a few ways:
1. Short to and breaking below the triangle and a possible return to the base of the wedge, probably around 1420. (dont want to think about this)
2. Short to and bouceing off the base of the triangle, forcing a break above both the triangle and wedge, (the one I favour most)
3. Breaking through the triangle and wedge Longing to 1517, (second favourate, would pul back from 1517 but is out of the wedge, unlike before)

Yorum:

Option 3 was taken out early, leaving options 1 and 2, today we should find out the option taken. Yesterday a long from 1471.6 to 1478 very much indictates a push North from the base of the triangle/wedge, around 1463.50-1468. I don't forsee a bounce and return now as the metal is now well compressed in the triangle/wedge.

Merry Christmas to all