So Gold got a little overheated - With the Trump tariff talk - the indexes all dumped - and now are shakily recovering - so it was an overshoot out of bollies for gold and a nasty dump for everything else - I imagine that Gold consolidates here now slowly for a while till it reaches the top of the channel which it did break out of convincingly - so maybe for all the talk about the price - and why the company has not used the spike to report - maybe they are prudently waiting for it to settle ... makes sense
Here is our chart which also followed the move popped out of the bollies and got a bit ahead of itself so now it is retesting that break and note it retested the previous break arrows show levels - so consolidation is in order to digest the moves imo - there is not always a fundamental reason more a macro reason at times that we rise and retest - so all those that are looking too close maybe step out a bit and see that there are a lot of various levers that push and pull the market - keeping in mind that nothing goes straight up ...
These are monthly charts so easier to look and compare without all the daily movements - We have had a good rise and consolidating here is what I would expect -
AZY Price at posting:
49.0¢ Sentiment: Buy Disclosure: Held
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