Gold update July 21, 2025
Gold is rallying higher after the weekend mostly because the dollar and US 10 year are dropping. Our technical analysis of the chart didn’t play out exactly as planned, which perfectly illustrates and reminds us how it’s super dynamic and won’t provide any value unless we’re willing to be just as fluid with changing our views on reading a particular chart. Can see earlier there was a similar pattern and it found support at the same level as that pattern did as well.
Feeling grateful for this chart because it also gave another lesson about never relying on chart patterns alone without considering other factors such as market indicators, sentiment, news, and narrative.
Our blog on technical analysis covers all you need to know on reading charts.
