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SP500 Broke 2018 Highs In Gold Price; Time For A Pullback?!Top ↑  Aug 13 2021 Hello traders and investors! Today we want to update our SP500 against GOLD , SPX / GOLD ratio chart, which we see it now breaking 2018 highs, clearly within an extended wave 5 of III, which means that we should be now aware of a pullback that can cause limited gains on SP500 , while GOLD may become supportive. Notice that GOLD is currently trading at strong 2019 trendline support, which was resistance from March 2020 COVID crysis, so in case of bounce and recovery from that projected support, bulls would be still in control. We also want to mention that SP500 can be finishing potential ending diagonal ( wedge ) pattern, while GOLD can be forming a big bullish triangle, now at the lower side of a range. However, more about this in our next article as the price action unfold. SP500 Broke 2018 Highs In Gold Price; Time For A Pullback?! by ew-forecast on TradingView.com Newsletter archive
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Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.
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