Mini breakout in local XGD.
Trading day 30th Dec had most major producers reversing off their low and you also see this reflected in the XGD.
XAUUSD gapped up today and broke the wedge/trendline breakout some would consider a runaway gap(?). $1965 is the most obvious target to see relevant price action if there is follow through rally.
DEG also has a more confirmed breakout off a follow through rally from 31st so the stars could be lining up for the ST bullish move up if Bitcoin can be the leader of what is occurring recently. Most folks are cautious on BTC and the more cautious the opinions get, the more the rally is set.
I recall the March pandemic low when every man and his dog were most likely (myself included) looking back to the GFC meltdown looking for forward leading signs of a market bottom. Never have I expected a V recovery akin to the 2018 Dec sell off so did not have the conviction to 'load up' as the panic set in.
When exposure is down hugely including all capital gains regardless of % of the exposed portfolio, it takes a very convicted mind to bet against the herd. If we believe in our local RBA manipulating firstly the 3Y bond rate then moving to the 5Y, a lot of pundits expects this to favor the equity markets generally with their ups and downs when politics and a virus mitigation conditions are involved.
Good luck all.
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