Gold has cut above an important level of resistance, besides having already blown past its descending trendline.
I’ve been yammering on quite a bit on my Tastytrade show about how the dollar’s weakness and the yen’s strength would finally give the gold bugs a much-needed rally. Well, it’s here, and GLD has cut above an important level of resistance, besides having already blown past its descending trendline.
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……which, in turn, has caused miners to rock and roll……..
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And who do gold bugs have to thank for this rally? THIS handsome devil!
This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.
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