GLD looks like it's putting in a top here. While I do think commodities have started longer term bull trends, I think if we see a big move down in risk assets, commodities won't escape the bearish move.I think it's likely that we reverse from this level and find support somewhere between $177-169 region.
However, I'm not ruling out the possibility of a larger move down. Supports on the charts.
After we see a major correction, I'll look for long-term entries as I think that move down will start the next bull run.
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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.