GLD has been absolutely ripping during market uncertainty, and if you account for the 50% retrace on SYX it is not outperforming. I drew a fib extension and looked at a wave analysis for a potential top, they are in alignment. BBWP is nearing firing red and the advanced stochastic cannot stay up here forever. Given that this is a monthly chart we should see a bit more upside, could take a few weeks.
Summary:
Golden fib extension matches 5 wave projection amid elevated volatility and buyer strength, should see a pull back between 320-330
Summary:
Golden fib extension matches 5 wave projection amid elevated volatility and buyer strength, should see a pull back between 320-330
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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.