Gold Coiling - Waiting for Resolution
- Gold is up YTD ~13% and been in a strong uptrend since 2018.
- Price is coiling and volatility is contracting into a Pennant / Wedge type pattern.
- Fundamentally with rates so low and so called endless Fed money printing - gold continues to have a strong macro appeal. Expecting prices to resume its uptrend at this stage - may take some profit of the table if it breakdown here.
- Price is coiling and volatility is contracting into a Pennant / Wedge type pattern.
- Fundamentally with rates so low and so called endless Fed money printing - gold continues to have a strong macro appeal. Expecting prices to resume its uptrend at this stage - may take some profit of the table if it breakdown here.
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