Liquidated damages are set to an amount the parties designate during the formation of a contract for an injured party to collect as compensation upon a specific breach of the agreement.

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Chart Analysis : The long-term daily chart of the Comex continuous gold contract shows a flag or triangle formation (lines a and b).

FORBES: Gold Glistens in July

Chart Analysis : The weekly chart of the Comex gold continuous contract shows the completion of the flag formation (lines a and b).

FORBES: A Golden Opportunity Is Still Ahead

Chart Analysis : The daily chart of the December 2011 Comex gold contract shows that it has just completed a bear flag formation (lines a and b).

FORBES: Will Gold Fall to $1500?

The chart of the November crude oil contract shows that prices are reaching the apex of its flag formation, lines f and g.

FORBES: Key Levels to Watch