GOLD / GLD heading higher
When zooming out on the chart, we notice a large cup-n-handle formed primed for a breakout. Interesting timing of the handle formation right around the time that the Fed will be raising interest rates which will cause overall market weakness. On the shorter timeframes, the charts are indicating GLD and GOLD have formed Bull-Flag patterns, one of which is in process of a breakout.
Personally, I have invested half of my commons account long into GLD for the 2022 and 2023 gold rush to safety. As always, this is my trade plan and is not deemed financial advise or a solicitation to buy or sell any security or asset. The stock markets contain risk and you should make your own decision based upon your risk reward profile and tolerance.
Personally, I have invested half of my commons account long into GLD for the 2022 and 2023 gold rush to safety. As always, this is my trade plan and is not deemed financial advise or a solicitation to buy or sell any security or asset. The stock markets contain risk and you should make your own decision based upon your risk reward profile and tolerance.
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