Not even rising inflation, a debt ceiling fight, nor a raging war overseas seems to move gold prices.
But either way, when looking at the SPDR Gold ETF (GLD), it’s clear that price is nearing a big move.
The giveaway is in the price pattern. Price has been narrowing over the past 4+ months, displaying an uncertain psychology. Andy when it breaks, it should break with conviction.
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$GLD Gold ETF Chart
Here we can see that narrowing pattern. Price is trading heavy so it may break lower. But it’s always wise to wait for the break.
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
