Update on GOLD $GLD
Price action looking to complete the right hand shoulder pattern. If we do complete this and not breakdown further, we are going back to the 2020 ATH and on target for a run to $2500 - $2900.
Trade active
The double bottom has been made. We should spring back into the right shoulder arc and resume higher. This will probably only play out if we see the 10Y Bond yield fall a little and the dollar weaken. It may not need both do do so, but lets see.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.