Loading ...Gold
For the Avocado. Nothing Bearish about these charts IMO.
Weekly ( I submit the same chart but with a thin crisp line)
The main downtrend was broken and backtested from above twice. It also looks to me that your uptrend line has been exceeded .
However the real line in the sand is the next one 1350ish .
Neutral for now
Daily is still bullish
You have a breakout on a linear chart, on low volume. RSI is at the peak, it has only one direction to go, and that is down.
Yes, but GLD has a breakout on good volume build throughout the rise in 2018. Also, the RSI should remain above the 50-level if the next leg in the bull market is underway, so fall, yes a little, but it shouldn’t have to fall much. We should remember the general market RSI has remained elevated since 2009, on average. Also, it appears $Gold has had a massive volume build since 2016 when it initially launched, this alone should be telling us something.
If this is a sustained bull, the RSI should stay high. That’s how bulls work.
Fully, would you say $Gold just broke out of another bull flag on the daily chart? Maybe no lower backtest to $1300-ish? I still see gaps on some GLD/GDX charts … should we be concerned or will those get filled well into the future?
If it is a bull flag and it is breaking out, it appears it is the halfway pattern from the $1280-$1300 trading range that broke out in January … it appears the target is $1365+
No gaps on my charts.
GDX daily … GLD daily charts on stockcharts? Regardless, I think the question is, they will get filled someday, but that could be far off into the future, correct?