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1 day ago, 08:13 AM
$GLD SG(GSD.SG)
Gold has done pretty pretty well lately. She has rebounded off her lows in July and never looked back. A gap breakout above the wedge upper trend line as well as upper rectangular channel trend line on 5th August was very telling. It was a type 1 breakout, clean as can be. Price gapped up again on 7th July before consolidating and then broke above its daily 200MA on 20th August. Safe to say the bulls have made their intentions clear.
Now price is at the 50% retrace off the bottom. Are the bulls strong enough to push further ahead or do they need a breather and a healthy pause before continuing their march to maybe new highs? Or will the bears push them back? Time will tell.
@Captain's Treasure
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