What this chart shows... The treasury bond yield and the price of gold have a strong relationship in the long and medium terms (in inverse directions, hence the use of GLL UltraShort Gold ETF as a comparative measure - PURPLE line). Yields had been falling strongly, and gold price rising swiftly throughout 2019 and into 2020. After the initial Wuhan Virus shock,...
GLL currently trying to push past 50 week MA and supply zone, Broke out of down trend.Waiting for Weekly MACD as confirmation. WEEKLY MACD seems to be the buy signal on this one. Last 4 times weekly MACD crossed it ran.
ProShares UltraShort Gold (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of Gold bullion as measured by the United States dollar p.m. fixing price for delivery in London.
Look forward for further upside action (correspond Sell XAUUSD) in short-term.
Time horizon: 2 months.