Will this 45 year trend line be the end of the gold rally?
https://www.tradingview.com/x/t9QjVHt5/
GOLD
With gold continuing its joy ride into rarefied air, the question on everyone's lips is "where will it end?"
Zooming out suggests that the current level COULD be one possibility for a reversal as it would confirm a 45 year resistance line (log scale). The last two times it hit the line it reversed off negative monthly divergence; as is present currently.
Will it hold true? Who knows. Would it look obvious in retrospect and catch many off guard? Absolutely. Therefore, I am taking some profits on longs here and opening a hedging short.
Gold historically performs well during inflationary periods (finished), average during periods of disinflation (current) and poorly during times of overt deflation (?coming).
Best of luck gold traders!
GOLD With gold continuing its joy ride into rarefied air, the question on everyone's lips is "where will it end?"
Zooming out suggests that the current level COULD be one possibility for a reversal as it would confirm a 45 year resistance line (log scale). The last two times it hit the line it reversed off negative monthly divergence; as is present currently.
Will it hold true? Who knows. Would it look obvious in retrospect and catch many off guard? Absolutely. Therefore, I am taking some profits on longs here and opening a hedging short.
Gold historically performs well during inflationary periods (finished), average during periods of disinflation (current) and poorly during times of overt deflation (?coming).
Best of luck gold traders!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.