Gold - Top of Trendline

٢٦ مايو ٢٠٢١

Nice move for gold over the last two months.

Its sits atop of a trendline from last September

Its is considerably outside the Keltner Channel on this daily chart. I have measured the pull back to the median on line - and you can see what it has done in the past.

As long as the trendline hold - this could be a decent short. Breaks the trendline then presumably there is more upside.

Ran the same exercise on Silver - its still a bit away from an upper trendline resistance.