Short-Term Outlook The series of higher-bottoms and higher-tops are helping to give the February Comex gold market an upside bias, and the elongated rectangular pattern inside a triangle chart ...

Ascending triangles are bullish ... while a bearish flag slopes up following a drop. Rectangle patterns tend to be both reversal and continuation patterns. This classic setup begins with price ...

Over longer periods, the pattern becomes a rectangle or triangle. As shown in the figure below, ICFI is moving above the resistance area near $24.50 after consolidating for more than a week.