My prior GLD post noted it was nearing major Fib resistance of the 2011 to 2015 bear market. That target has been achieved on the cusp of a seasonal bearish time that lasts until April.
Additionally, Gold occasionally will peak at or near new moons. 2/23/20 is a new moon.
Gold Commercials - their the group with the most money, have the largest Gold Futures short interest for in over twenty years!
Daily RSI has a bearish divergence.
I issue Red Alerts when there's overwhelming evidence of a bearish turn.
If GLD and Gold are at a potential top, the subsequent bear market could last for years.
This is a RED ALERT!
Mark
Additionally, Gold occasionally will peak at or near new moons. 2/23/20 is a new moon.
Gold Commercials - their the group with the most money, have the largest Gold Futures short interest for in over twenty years!
Daily RSI has a bearish divergence.
I issue Red Alerts when there's overwhelming evidence of a bearish turn.
If GLD and Gold are at a potential top, the subsequent bear market could last for years.
This is a RED ALERT!
Mark
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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.