The Gold ETF is now at the top of its recent trading range. A break higher here would be bullish. Mean Reversion traders will be looking for a fall back.Looking at a longer term chart. The stock has now broken above the down trend line from early July.
That's an early warning sign that the trend might have changed to the upside.
It still needs to break above horizontal resistance to confirm a change in trend to the upside - and a negative for the general stock market.
Cheers
Red
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