September 13, 2024

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Running On 50 bps Rumor

Please click here for a chart of gold ETF (GLD).

Note the following:

• The chart shows when gold broke out back in March.
• The chart shows a new breakout in gold.  Gold is hitting an all time high.
• The chart shows that the breakout is on higher volume.  This shows conviction.
• RSI on the chart shows that gold is approaching the overbought level but is not yet there.
• The chart shows the support zone.  How gold reacts if it pulls back into the support zone will be a tell.