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GLD Weekly chart Confirming our bullish expectations (see earlier charts on this setup below)
Note Dec 1st, 2022 Closed back above the 200 day moving average. It’s the first time it’s closed above that since June 16th
Important >> This type of trade may not be for everyone, due to the extreme volatility. Please understand the risk.
See more of my gold charts below to see how I got here.
Gold stocks
Breakout mode. Continues to show good strength after this bullish gap up, and today with a bullish engulfing candlestick. Watch the 200 day average overhead; currently at 45.72 as a point of significant resistance and/or a breakout point to move higher.
Classic reversal setup at support, pushing back above the 5 day moving average giving good confirmation of the expectation (see chart below) and could go higher.
Posted during market hours.
A strong open filling this higher gap (with continuation) and could go higher. Potential breakout.
Gold / Once again rejected at resistance, the 50 day moving average, and thinking that this likely goes lower.
SLV With gold making its move, would watch for a move above this key pivot point to indicate a reversal also for silver.
JNUG This move today (bullish gap up with continuation) above key points of resistance on increased volume is attention getting.