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Gold Breaks To A New High And Can Go Much Higher, Stocks And Gold Running On 50 BPS Cut

Benzinga ·  Sep 13 23:29

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

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Running On 50 bps Rumor

Please click here for an enlarged chart ofSPDR Gold Trust(NYSE: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...
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