The chart is actually the gold ETF (GLD), but its recent breakout completes a technical pattern known as a reverse head & shoulders. You can see the head and shoulders below identified by the price boxes in December (the left shoulder), February (the head), and March (the right shoulder).
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirPQUNVh77aC7ZrWkf9hd5VYCvImNUwZ-C1ljxlRgHwamzaYczSHMR-_zxVYE_FdC8f0HNSQHxIQZD2WMRuzEx5gLsX4Z39k8XT0XyIezoBb-D7wbl8Hs-2lL9wZ_u0a1mnJn7GE1KLPdJ/s320/gld.png)
Since gold often trades inversely to the dollar, I wonder how this bullish implication for gold will play out in terms of the near-term path for the US dollar?
long GLD
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