Yesterday I shared that two “Safe Havens” were doing well (see post here) reflecting that Gold and the Swiss Franc remained inside of quality rising channels.
Gold (GLD) and the Franc (FXF) are having another quality day today with another “safe haven” breaking channel resistance below.
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TLT has spent the majority of the last couple of years inside of a channel, that it is now breaking from. As it is pushing above channel resistance, it looks to be breaking the neckline of a bullish inverse “Head & Shoulders” pattern.
What ever the reason/excuse….these safe havens, GLD, SLV, FXF and TLT are all reflecting positive price action! With the 500 index on channel support, the action of these safe havens becomes more important now than at any time in the past 6 months.
