Conviction: 4/5
Long-term cup and handle since 2011, looks like ready for completion
However, in the short term, price is forming pennant.
Currently at support of pennant, could be good entry point.
To be more prudent, should probably wait until confirmation of breakout from top of pennant to enter.
Considerations
Long-term cup and handle since 2011, looks like ready for completion
However, in the short term, price is forming pennant.
Currently at support of pennant, could be good entry point.
To be more prudent, should probably wait until confirmation of breakout from top of pennant to enter.
Considerations
- Rising yield => rising real yield => historically bad for gold, but it has not really been following real-yield relationship since bull run of 2020.
- Recession risk (from falling PMI) should help gold outperform stocks, HOWEVER, in first move down, correlation usually goes to 1 (i.e. it will participate)
Nota
Breakout and possible retest yesterday!
Updated conviction: 5/5
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.