I've been watching this structure build all year. It's still developing, and I'm not expecting that a breakout is imminent yet. A breakout above this formation should lead to a significant rally. My fundamental outlook on gold is extremely bullish as well. Just look up a chart of the M2 money supply on the FRED website.
I'll be treating any dips below $1700 as buying opportunities, expecting $1671 to hold as support. I will use this signal to opportunistically accumulate shares of gold and gold mining ETFs.
I'll be treating any dips below $1700 as buying opportunities, expecting $1671 to hold as support. I will use this signal to opportunistically accumulate shares of gold and gold mining ETFs.