TRIANGE TRIANGLE EVERYWHERE

If you would replace triangle with water, the statement will become life defining. But what if we tell you the simple Euclidean geometric form not only defines the molecular form of H2O but also the demand and supply cycles of environment that might push the now inexpensive natural asset into a high return exponential trajectory. By the way, water stocks have outperformed OIL futures in the last 2 years.
Technicians like geometricians stand by the triangle. We at Orpheus give it high weightage whenever we churn out a forecast. For us triangles are every where, in water, sugar, coffee, oil, forex, Sensex, HZNC and in GOLD.
The current form in GOLD seems to support a TRIANGLE with five legs. We illustrated the Gold triangle to you as early as Oct 06 as an alternate count. We said that if the triangle comes to being there will be a lot sideways action. As after the form comes to fore, prices oscillate till the form completes. Based on triangle estimations we highlighted a key turn level for GOLD at 640, as early as Nov 06. As thing stands today the triangle form continues and Gold still stands below the resistance set by the simple polygon.
For us this simplicity is the key to forecasting. The anticipated triangle resistances ahead for Gold, Silver, MCX – Gold Near, HUI – Gold Bugs, NEM Newmont Mining Corp, GFI Gold Fields Limited and XAU – Gold and Silver Index are still running at 640, 13.2, 9300, 340, 47.4, 18 and 144 respectively. All levels stand firm.
The Triangle completion is followed by another leg up i.e. a leg up from sub 600 levels to near 1000 levels. The back up count still expects a move up to 690 in an expanded flat. Lets see it’s the triangle or the flat.