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March 2nd, 2020: GLD Chart Update

Posted by pugsma on March 2, 2020

GLD looks to have topped the Primary Y (PY) of Cycle B (CB) wave at 158.53, right at the weekly IHS target of 158.81 and the daily chart bull flag target at 157.45.

The Cycle C (CC) wave should be underway with a CC=CA target of 72.91.

The Primary 1 (P1) wave should target the 130.50 to 123.50 pivot area the fall of 2020.

Major [1] of P1 wave looks to have ended at 147.05 and the major [2] move to a 50% Fib at 152.79 is underway.  Once major [2] ends, the major [3]=1.62[1] target is at 134.19.

GLD Daily Chart:

Gold Technical Analysis

GLD Weekly Chart:

Gold Technical Analysis

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