Gld currently in a consolidation phase. Forming a cup and now handle, a breakout gives a price target of 260$ with a stop at the bottom of the handle at 245$ this gives a 3:1 risk reward trade set up. And a new ATH for GLD
Gld currently in a consolidation phase. Forming a cup and now handle, a breakout gives a price target of 260$ with a stop at the bottom of the handle at 245$ this gives a 3:1 risk reward trade set up. And a new ATH for GLD
Dead cat bounce in the last 2 weeks from a bullish speculation that bottom is in and fed will pivot. China reopening to spike inflation, prolong the time of terminal rate and turn a soft landing into a hard landing. Fed will remain hawkish into 2024 and market will trade sideways until further evidence of the scale of recession. No technical data to support this...
