peter_jackson

Update on GOLD $GLD

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
Price action looking to complete the right hand shoulder pattern. If we do complete this and not breakdown further, we are going back to the 2020 ATH and on target for a run to $2500 - $2900.
Trade active: The double bottom has been made. We should spring back into the right shoulder arc and resume higher. This will probably only play out if we see the 10Y Bond yield fall a little and the dollar weaken. It may not need both do do so, but lets see.