H&S top in $GLD?
GLD seems to be forming a head and shoulders top here with the right should shallower than the left (a very classic pattern). Should this break down here, I think we're likely setting up for a top in GLD.
The technical target for the breakdown would be the $200 level, but after looking at the chart on larger timeframes, I think this could be a more mid-term top (over the next 6-12 months).
I've marked off key levels to the downside should the pattern break down.
The technical target for the breakdown would be the $200 level, but after looking at the chart on larger timeframes, I think this could be a more mid-term top (over the next 6-12 months).
I've marked off key levels to the downside should the pattern break down.
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