xjo weekend zoomba lounge, page-81

As mentioned a few days ago, while the Gold ETF (GLD) has shown some potentially bullish behaviour recently, the Gold Futures (GC) were lagging behind.
So we've seen the GLD repeat testing, while the GC potentially absorbing supply without any clear testing.

Last night saw a mini shakeout on both the GLD & the GC.

A shakeout is seen as a violent test (of supply).
Ram it down, panic the weak hands, catch stops etc.
(check out Downer EDI yesterday jeeps etc.)

This brings the Gold Futures more in line with the ETF.

and the weekly GLD chart also shows a test type bar, so they are all starting to come together.

Some further supply was found during the mini shakeout, so further sideways action has the highest probability, bordered by the potential resistance above (creek) & the low of the potential support bar below.
(there is still one further potential support zone lower on the GLD, if needed, after that it would be "look out below")
Expect further testing and absorption in this current zone, while it builds up strength (cause).

GLD & GC Charts