I suppose it only makes sense that this pennant takes the same amount of time to resolve as the last pennant, a week and a half.
Based on timing, it appears that gold should go on another run early next week, this time because of a stock market drop (vs just a rate cut). Timing coincides with my SPX expectations of a dip next week.
Based on timing, it appears that gold should go on another run early next week, this time because of a stock market drop (vs just a rate cut). Timing coincides with my SPX expectations of a dip next week.
Commentaire:
Looks like it broke out of the pennant and back tested it twice. Not sure if we'll hit the target or not. No position.