#Gold - Consolidating Before Another Positive Trend Starts BUY ALL THE DIPS! $GDX $GLD

Gold was overbought. It is now in a consolidation period, however, it will be coming to an end before you know it.

The trend is still positive for gold prices. 

BUY ALL THE DIPS!

Gold - Consolidating before another positive trend starts

Attachment 1 above is the weekly chart of the gold continuous contract (futures market). It has broken on the upside at US$ 1'380 per ounce and advanced to around US$ 1'550 per ounce where it ran into resistance.

The daily chart (attachment 2) shows the correction over the last 4 days, nothing severe considering gold gained since the breakout on June 22, 2019, US$ 170 per ounce.

GDX, the largest gold shares ETF (attachment 3), indicates the correction over the last few days of around 11%. However, this ETF has gained since June 22, from bottom to top, 29% in under three months.