Gold (GLD) Pivoting Higher
The last update on gold (GLD) has us expecting an up-thrust (reversal) condition.
Even though price action immediately pushed away from the resistance area, there’s still a possibility GLD is on track to recover and move higher.
Downward action in GLD has stalled and looks like it’s building energy for an attempted breakout.
If and when we get an up-thrust … that’s the time to expect fireworks in the mining sector.
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.