Monday, 14 October 2013

Nikkei broken out and tested bullish wedge? 2013-10-15

The Nikkei 225 in Japan appears to have broken out of what looks like a bullish wedge pattern for the last few months:

Now the action in the Nikkei in the last 3 years has generally followed the US dollar : Yen rate. In this instanc,e the rate is rising as expected, implying a stronger dollar - and this has usually been BEARISH FOR GOLD!

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