Gold Breakout
Like the seasons, the markets appears to be attempting a shift. I made a recent post about long term treasury yields flipping bullish this month so far and now Gold appears to be doing the exact same thing as it has seen a beautiful breakout of a descending broadening wedge.
This is one of the more bullish patterns that exists, which means if this monthly candle shown on the chart confirms, big things could be in store for the precious metal.
Keep a close eye on this and the stock market as a whole as the year goes on. If big money starts aggressively piling their cash into hedges such as gold and bonds, that could mean bad things for many of the overvalued stocks out there.
This would especially mean bearish things for speculative tech stocks and cryptocurrencies.
This is one of the more bullish patterns that exists, which means if this monthly candle shown on the chart confirms, big things could be in store for the precious metal.
Keep a close eye on this and the stock market as a whole as the year goes on. If big money starts aggressively piling their cash into hedges such as gold and bonds, that could mean bad things for many of the overvalued stocks out there.
This would especially mean bearish things for speculative tech stocks and cryptocurrencies.
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