Gold is setting up for the upside breakout
Gold is setting up for the upside breakout. I consider buying it above the recent sessional high.
It reasonably well held above the 1500 level - a key resistance. Now, the path the 1550 - 1560 is open.
Also, we see this situation in a context or growing SPY and declining VIX. It means that Gold is increasing on the internals, not on the market fear.
But low VIX and new ATH for SPY create new potential for a more aggressive breakout.
It reasonably well held above the 1500 level - a key resistance. Now, the path the 1550 - 1560 is open.
Also, we see this situation in a context or growing SPY and declining VIX. It means that Gold is increasing on the internals, not on the market fear.
But low VIX and new ATH for SPY create new potential for a more aggressive breakout.