Gold - The Long Game
Gold, in addition to other precious metals and commodities, has been rallying on inflation fears.
Here is our technical breakdown:
-Will, OptionsSwing Analyst
Gold, in addition to other precious metals and commodities, has been rallying on inflation fears.
Here is our technical breakdown:
- After forming a 7-year rounded bottom, $GLD rallied 43% from the March 2020 bottom, topping out at the 27% extension of $194.50 in August of 2020.
- A successful breakout of our August 2020 downtrend targets a re-test of weekly supply of ~$182-$184.5.
- Beyond that, a re-test of highs at $194.50, and extension to the 61.8% of $207.
-Will, OptionsSwing Analyst
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