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S&P 500 Index

GOLD and SPX, Descending Triangle Pattern, Bearish Hidden Diverg

By Dankbee
Gold has been beating the SPX for a long time, but there is a good chance that gold will continue to pummel the SPX even more. SPX / GOLD shows a descending triangle pattern, which if it breaks down, can lead to huge growth opportunities for gold. I would change my bullish outlook on gold if 1) make a new local high 2) break the down trend line,test it as support, and make new local high.

Also watch the 21 EMA
Chart PatternsTrend Analysis
Dankbee

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