GOLD in a VCP (Volatility Contraction Pattern) - BULLISH
Brief and simple - GOLD is in a VCP pattern. I won't venture to try to time the breakout out of this. But the key levels to watch are $1830 and ultimately $1900. When above $1900 - GOLD will be a strong buy. However, having come up from ~$1650 bottom, don't be surprised if it retests any key support levels along the way.
Obviously, if this thesis doesn't work out - watch out below. There's a lot of space below the key trend support line where the rally started in 2019...
Stay safe and keep an open mind!
Obviously, if this thesis doesn't work out - watch out below. There's a lot of space below the key trend support line where the rally started in 2019...
Stay safe and keep an open mind!
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