We are showing today once more an updated Gold chart.
As explained previously Gold bottomed around 1764 and that is when we went initially long.
Then in between we got stopped out and went long again at 1835.
On the last chart we showed that Gold was very close to breaking out and gave a next upside target of 1883.
This morning Gold reached our target and we now need to see if it can maintain its up-move.
We need a close above 1901 to see a move above 2000.
Raise the Suggested protective sell stop to 1868.
For GLD the next upside target is still 177.40 and we raise the suggested sell stop to 171.90.
On another note: Bitcoin…
From our GMTT Research report of December 7th (full copy available on request):
Bitcoin reached another milestone – our upside target of 20000.
A good close above it will confirm a move towards 26K.
However, we expect to see a pullback first.
Now looking to short Bitcoin at the market with a buy stop at 20045.
First short-term downside target 18220.
Bitcoin did pullback to 17575 before it continued its up-move.
Above 20000 it confirmed the move towards 26000, and this morning Bitcoin is already trading at 22582!!
The trading in the Bitcoin remains very volatile which is the reason that GMTT is not invested in Bitcoin now.
A close below 20800 cancels the buy signal short term.
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