Gold Set to Rally
|Chaos Clinic for 10/2/2020
This is a 5 month 8 hour bar chart of the gold exchange traded fund GLD. For over two years, gold has been going up, as money flows out of riskier markets.
During June and and July, GLD soared. Then it started a pullback. That pullback now looks to be over.
Gold is in a larger Chaos Clamshell of which moves 2, 3, and 4 are shown by magenta numbers. Within move 4 down, there are 7 moves numbered in yellow.
Further evidence is provided by the 48 day EXMA. At the magenta 2 low prices bounced sharply off the EXMA. At the magenta 4 low, prices penetrated the EXMA,but rebounded above it. This is a sign of strength.
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