In the trader tip video, Brian talks about what he likes about the GLD Gold chart in these volatile times. We are certainly seeing a lot of carnage in markets across a variety of asset classes, with stocks breaking support levels and making new lows for the year. The S & P is down about 20% year to date and the Nasdaq is in the deeper bear market territory.
On the other end, the gold is up about 1% and we see an upward slopping trend line for GLD that goes back to March 2021. Gold possibly has substantial room to run to the upside if we are patient. We think this may be a good entry point for longer-term positioning in gold.
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Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.