GOLD: Push, push...
Current setup
We are currently in the third attempt of the commodity to break the 1750 resistance to the upside.
The breakout form the high, symmetrical, triangle formation is still in play.
Our stop-loss at 1680 is still valid and has not been breached.
Any dollar weakness would help this trade further.
Recommended action
If you own it, hold it with stop-loss 1680.
If you don't own it, wait for breakout above 1750 to go long.
For a leveraged play, prefer gold miners such as HMY - Harmony Gold (my personal favorite).
We are currently in the third attempt of the commodity to break the 1750 resistance to the upside.
The breakout form the high, symmetrical, triangle formation is still in play.
Our stop-loss at 1680 is still valid and has not been breached.
Any dollar weakness would help this trade further.
Recommended action
If you own it, hold it with stop-loss 1680.
If you don't own it, wait for breakout above 1750 to go long.
For a leveraged play, prefer gold miners such as HMY - Harmony Gold (my personal favorite).
Related publications
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.
Related publications
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.