Look Out Above

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Just a heads up on what I’m seeing in gold right now via the GLD ETF.  The charts speak for themselves.

4yr view

011115 - GLD 4yrs

1yr 3mo view

011115 - GLD 1yr3mo

Obviously, I’m not suggested a straight up moonshot, the line is just a target off the Inverse Head & Shoulders pattern.  I don’t think they really mean anything as far as a target goes, but it does show a reversal of supply/demand in play which will lead to further short-covering.