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WedgeIdeas
Aug 20, 2020 8:28 PM

Here We Go Again Long

ISHARES V PLC GOLD PRODUCERS UCITS ETF USD ACCLSE

Description

Gold miners forming a triangle, preparing for another run at the 1480 level. I'm bullish despite the reaction post-FOMC, especially as that reaction has quickly faded through today.

Comment

It's currently flirting with the lower edge of the triangle, making me nervous. I would bail at 1285.

Trade closed: stop reached

It has had a go but looks like it needs to cool off further before the next rally.
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