Gold - The Long Game
Gold, in addition to other precious metals and commodities, has been rallying on inflation fears.
Here is our technical breakdown:
-Will, OptionsSwing Analyst
Gold, in addition to other precious metals and commodities, has been rallying on inflation fears.
Here is our technical breakdown:
- After forming a 7-year rounded bottom,
GLD rallied 43% from the March 2020 bottom, topping out at the 27% extension of $194.50 in August of 2020. - A successful breakout of our August 2020 downtrend targets a re-test of weekly supply of ~$182-$184.5.
- Beyond that, a re-test of highs at $194.50, and extension to the 61.8% of $207.
-Will, OptionsSwing Analyst
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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.
Education first, profits second.
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.