I like GLD. At least right now I do. A rather symmetrical triangle has formed, and normally that implies continuation. That's why I have zoomed way out to the weekly (and even monthly) bars to see the past trend which it is supposed to be continuing. If you look on a long time frame the last leg down looks very much like a bull flag correction and it's reasonable to think it'll break upwards. If gold is still valued as a hedge against inflation it should also ride the tailwinds of the current macroeconomic situation.
I put the bollinger bands on to show that volatility has also lowered (bands have squeezed together). This is normally a precursor to a big move afterwards..... and in this case I believe most evidence is pointing towards the sky.
I put the bollinger bands on to show that volatility has also lowered (bands have squeezed together). This is normally a precursor to a big move afterwards..... and in this case I believe most evidence is pointing towards the sky.