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Feb 1, 2024 3:57 AM

GLD - Breakout of Reverse Head and Shoulders - alert Long

SPDR Gold TrustArca

Description

Pretty distinctive Reverse Head and Shoulders look. Breakout projection points to 236.

Wave formation may be wave 3. 1.618 fib of wave 1 projects to the 236 level as well.

The neckline has been heavy resistance for years now but the wave structure points to a big 3 of 3 run that will smash through and start its run.

Physical is better for long term
Cash over GLD has been steadily rising over time
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