This setup resembles the rally off the April low.
If the SP 500 falters at overhead resistance gold will likely remain within its trading range.
“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot
This setup resembles the rally off the April low.
If the SP 500 falters at overhead resistance gold will likely remain within its trading range.