On December 22, 2023 it was noted that daily Engrbytrade™ Gold/U.S Dollar derivative calculations have moved quickly in a direction that confirms gold is nearing the completion of a long term ascending triangle structure. This is similar to what developed during 2008 and 2009. Gold’s recent move confirms a 2024 angle rise of 44.43 degrees. This is similar to the angle rise in 2009. Gold is still expected to conduct a move that is similar to what occurred between 2010 and 2011.
Charts courtesy of StockCharts.com.
