GLD, SLV, and GDX all finished the week with some of the strongest weekly upside volume for the year. SLV in particular had the biggest weekly upside volume since 2016. I’ll be paying very close attention to a potential breakout in gold over the next few days to weeks. In particular I want to see more explosive volume if GLD breaks above 128. If we don’t see a big increase in volume it will be a sign of a potential fake breakout.
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