Total Assets
Rate Of Return$SPDR Gold Shares(GLD.US)
Its interesting to see many using the 200D MA as ‘proof’ that Gold has topped etc and that there is a trend reversal. Goes to show how many just conveniently take a well known support line and draw conclusions without taking other factors into account.
Yes the 200D MA has been breached. However it can be reclaimed as easily and technically gold has a beautiful 3 wave ABC off the top in between 23.6 and 38.2 retrace and just above a confluence of AVWAPs. Until that develops into a clear five wave pattern on increasing volume, this looks like the end of a fourth wave or the A of that fourth wave. The overall long term trend is still up. Weekly looks good.
Looks like a good spot to accumulate for the long term.
Not financial advice. As usual do your own due diligence.
@Captain's Treasure
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