Wow. Someone just paid about $3.5M in an aggressive sweep for $GLD $415 calls expiring 3/20/26.
https://x.com/Mayhem4Markets/status/1975201871691440244
BofA warns that “multiple time frame technical signals and conditions warn of uptrend exhaustion as gold nears $4,000/oz.
Gold is “up seven consecutive weeks in a row,” a pattern that has historically preceded short-term weakness.
Momentum signals also point to fatigue. The “14-day RSI has been overbought for a month,” while the “14-week RSI shows a three-peaked bearish divergence.
The analysts added that “multiple time frames are showing DeMark exhaustion counts,” with daily, weekly, and monthly charts all triggering sell signals.
The metal has risen for each of the past eight weeks.
Gold is up more than 50% this year. But most investors aren’t paying attention. That tells us the boom isn’t over yet.
Folks will wake up eventually… They’ll buy in droves, pushing prices much higher. And their overenthusiasm will set the stage for a bust.
We’re not there yet. And that means we expect the gold bull market to continue.
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