/GC gold futures are backtesting the upper-downtrend line on this 60-min chart, offering an objective long entry with a stop somewhat below. Other proxies for trading gold are GLD (gold ETF), DGP (2x long gold ETF), UGLD (3x long gold ETF), and /MGC (E-micro gold futures which trade at the same price level as /GC but using 1/10th the leverage factor resulting in net exposure of about $15k of gold per contract).
GC 60m Oct 28th
As gold remains in a fairly large trading range, I’m only passing this along as an unofficial trade for now with a near-term potential bounce target around 1520 & a suggested stop just below 1490 although this may also provide an objective level to add exposure to gold for those scaling into a longer-term swing or trend position.