Technical Analysis of Financial Markets

Friday, August 04, 2006

Gold & Copper - Metals Symmetrical Triangle

After a parabolic rise in commodities, metals copper and gold seem to be consolidating into a Symmetrical Triangle formation. Breakout usually favours the direction of the previous price trend (i.e. upwards); however, the breakout can occur in either direction - trade in the direction of breakout. Gold can be traded using the streetTRACKS Gold ETF listed on the NYSE under symbol GLD. Is there a copper ETF available?

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