$SPDR Gold Shares(GLD.US)

As mentioned last week, Gold is my defensive hedge for a high beta tech portfolio in a barbell kind of approach along with other so called hedges such as income yield (I use sukuk instead of bonds for shariah compliance) and conventional energy (I lump traditional oil such as XOM and CVX here which tracks crude oil closer vs GEV and BE which are outright AI energy plays and hence are placed in my tech portfolio).

GLD is now hovering above a confluence of two AVWAPs as well as into a fifth wave of the C of a three wave pullback structure. I don’t know what narrative is coming up but price seems to be telling a story on its own and is indicating a rebound is coming up. Price action will tell if it is a B wave or a fifth wave rally to new highs.

@Bridge Buzz SG