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Linda Raschke, founder at LBR Asset Management, observed that both gold (GC) and silver (SI) closed on Friday with a three bar triangle breakout formation.
She added that gold needs to move above 4593.7 for further gains.
Raschke has highlighted patterns across various assets in recent commentary. She previously pointed out that CME and JNJ were among the last stocks with weekly bull flag patterns. In another post, she used a Charlie Brown football analogy to describe a disappointment in INTC's performance.