Replies to post #33812 on GOLDBUGS AMEX Goldbugs Index (GOLD)

[Sparks111111]

That chart your posting, wedge in a downtrend is 80% bearish and will break down not up.

Have to look at the bigger picture too, a descending broadening wedge is what I see long term with a double bottom.

https://www.tradingview.com/x/ar5LUvoe

I disagree with your chart, a symmetrical wedge is what you're pointing out, is bearish, where as a falling wedge would break out, this is not what we see with your chart.

In your chart, you're also missing the cup and handle, most investors online have missed it, a good formation on the handle in and out, target 1365 top, if it breaks through, the party starts, but it's too early. will flush back to 1280 and fall way down from there, triple bottom should be in play near the end of the year IMO.

https://www.tradingview.com/x/zXQjyLuy