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GLD

GDX... Launched!The Gold miners ETF had a clear launch over the last two weeks, amidst the build up of the global events in Europe. The Weekly chart has a sustained double breakout of a short term trendline, and the weekly 55EMA. The technicals (MACD and RPM) are very supportive, crossing upwards and into bullish territory. The Daily chart shows the past two weeks developments, nothing short of being impressive and decisive. An immediate term resistance is seen, but am optimistic that the Gold miners have launched from the base low, at long last. As previously mentioned... Gold prices have since moved significantly to above 1900, and equites are on the rise. This are supportive of the GDX. Currently, a slightly stronger USD is disregarded and off set by the previous two. GDX has since moved up 10% and is slated for much for upside, way above 40 IMHO. Projections in a later following post...
AMEX:GDXLong
by Auguraltrader
2
GLD Monthly Breakout Imminent!11 month accumulation with a big range expansion in Feb. There is the possibility to expect a second level target here which would bring the price target to around $204. I'll wait till the end of Feb before entering to await confirmation of a breakout. As long as the price stays above ~173.80 we will have a confirmed breakout. Closing for the month above $173.80 would make the monthly range expansion greater than the previous candle, confirming the breakout.
AMEX:GLDLong
by Trade_Integrity
SPY ProjectionsAnalysis done on daily candles. Markets are bracing for a Russian invasion into Ukraine in the coming days, which is sending equity markets lower, but also providing opportunity in other sectors. In the last few weeks we've seen the high valuation stocks begin to correct themselves into reasonable prices, but we saw sectors that have been stagnant in the last 24 months finally moving. Energy, consumer defense, and precious metal sectors didn't perform nearly as strong as tech stocks did after the Covid-19 lockdowns, but the rising fears of potential war is bringing buyers into these fields. We'll be focused on those two sectors for bullish trades and also capitalizing on bearish moves by playing option puts. We have a few names in mind to trade in each sector, but we'll wait until the right time to enter. During times of uncertainty as such, markets will largely be controlled by news updates so our plan as always is to come in knowing which sectors react to what and then executing trades on the stocks with most movement in those sectors. Looking at SPY's chart, Friday ended back in vulnerable territory and the news from the weekend may send us to retest the 420.00 level again. If we break below then 400.00 is a potential next level for SPY to move towards; this will provide opportunities to take on short set ups in the overvalued companies on our radar.
AMEX:SPY
by hyperstocks
The Gold Odyssey continues... an old but Gold storyBack in 2019, April 29th was the date that Donald Trump tweeted his launch of a trade war with China. This was significant because this was the first time ever, ANY politician took to social media directly to make announcements. Furthermore, it threw markets into a swirl that took a couple of weeks to work out what it wanted. Gold was the first to recover and move in early May 2019. This was a time when I started looking particularly close at Gold charts, having tracking it since October 2018 on a friend's query. The ride paid off and exited >90% Gold related holdings on 11 August 2020; after taking some off just as the pandemic started in Feb 2020 and repositioning in mid-June 2020. Since then, as Gold prices hit 2K, I often got questions about would Gold prices go further, people were piling into Gold positions as media fanned the Gold rush. I kept telling those who asked that I exited, and yes, Gold will reach back to 2K and more, but it can take years. Today, those years seemed to have passed. You see... in the bigger perspective of things, ie. the Monthly chart, there was a Cup forming midway, and when D Trump started tweeting about the trade war, he triggered the closing formation of the Cup. That ended with a blow off top at almost 2100... almost. Since then, the handle was forming... throughout the latter part of the pandemic to date, Gold was ranging in a wide band to form the Handle. Again, I wondered what would trigger the closing formation of the Handle... For those who are (not) familiar... this is the formation of a Cup & Handle Pattern; and one of a very large scale of years. This means to me that the pattern should be more reliable, more explosive (relative to Gold), and takes time to position while having to monitor over months being patient. It appears that last week's Russia-Ukraine stand-off, with Biden (current POTUS) drumming the war beats spurred Gold into an awakening. The weekly Gold chart on the left shows the point where I started tracking closely (and positioned) since 2019. Very nice breakout patterns formed since then until August 2020. The vertical timelines are projected dates btw... So, we can see that Gold clearly broke out last week, and with a nice Gap Up, ending the week with a beautiful bullish candle. MACD supporting the breakout and this came after bouncing off the Gann Fan support line (white up trend support line) that has been in play since 2019. Time line projections put a retest over the next 5 weeks into April, before a potential launch point. Now, I will leave it to you for further discussions what this might mean for global events... because, the next flight up to 2100 is fast and furious into end-June. The Monthly chart of Gold (on the right) shows the Cup & Handle Pattern, albeit not completed yet. Projections from completion of the C&H pattern puts a 2500 target within the year, and 3100 target some time 2024 and 2025. The MACD is turning bullish again after receding to baseline, and this bullish cross in the next couple of months can push Gold prices to projected target. A similar technical occurrence like this happened in Jan-May 2019, so it is not impossible there. Again, what global events would push Gold this high... remains a good discussion topic. Now... I can understand and accept that there are many other perspective and opinions about Gold. BAck in 2019, when I spoke of increasing volatility in markets, and rising inflation, and Gold prices targeting 2K, very few took notice, let alone believed it possible. So far, over the last (almost) 3 years, Gold prices have played out as projected; even within a 2 week period of topping out $100 excess off target. Perhaps it is time we relook and revisit Gold... for what value it is worth in weight (not digital, you see... pun intended). Enjoy! See you all along the way and perhaps in 2025. :)
COMEX:GC1!Long
by Auguraltrader
6
GLD Long. Gold Weekly Breakout!! Target = $2300 (GLD =$215)Overall I am a $BTCUSD BULL but we must admit that currently $BTC is faltering and possibly in a Bear market. I think that the money that fled to BTC from Gold will be coming back. In addition the chart of Gold has been forming a GIANT Wedge with the apex rapidly approaching. This is a Bullish consolidation formation. WE have just today closed above the top of the Wedge line resistance. I realize this is a WEEKLY chart and the week is not over yet but I see a Bullish Divergence on the MACD with a Break above the ZERO line and we dont have much more time before the apex. Also we have been testing the overhead resistance line many times over the last 18 months with most of those tests in the last 3 months. This is a GOLD chart and not GLD but its almost identical chart with ability to easily trade paper Gold using GLD. The upside Target Price of the breakout is the max height of the wedge which would put the Gold Price at $2300 which equates to about $215 on the GLD. Long GLD @ $171.18. Trade what you see!
TVC:GOLDLong
by eganon69
SPDR Gold (USA: GLD) Breaks Triangle on High Investor Interest🌟SPDR Gold Shares Trust (USA: $GLD) holds gold bars and from time to time, issues Baskets in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust expenses. The Sponsor believes that, for many investors, the Shares represent a cost-effective investment in gold.
AMEX:GLDLong
by Bullishcharts
1
Market Outlook Feb 14th--->Feb 18th $SPYBreakdown of Each chart Top left - S&P 500 / General market Bottom left - QQQ / Nasdaq / Tech sector Top right- XLF / Financial sector Bottom right- Dollar index Recap Investors went on another wild ride this week, but ultimately US stock indices finished modestly below where they started. Trading remained choppy as traders digested another slew of earnings reports around the release of key US inflation data. Even before the CPI print inflation worries percolated, copper, iron ore, timber and coffee prices surged garnering attention. Quarterly earnings conference calls were rife with commentary about the expectation that companies will continue to raise prices through the remainder 2022 to offset rising supply chain costs. Also, a protest by Canadian truckers over vaccine mandates shut down several key bridges on the US/Canada border resulting in significant down time at multiple US automobile OEM facilities. WTI crude hit a fresh 8-year high on Friday spurred by reports that the US government now believes Russian President Putin has made the decision to invade Ukraine. Thursday’s January CPI release spooked markets yet again, after coming in substantially hotter than already-goosed market expectations, reaching the highest annual pace since 1982. The upside surprise in the core index was spread across a wide range of categories, including some that have been heavily influenced by bottlenecks and others where price pressures could be viewed as more likely to stick. Stock markets came under pressure and Treasury yields immediately shot up on the news, led by the 2-year yield which surged 25 basis points, the largest daily gain since 2009. The 10-year yield retook 2% for the first time since 2019, but investors were also quick to fret over the narrowing of spreads or the curve flattening and what it might signal about future growth prospects. Futures markets quickly saw the odds of a 50 basis point March rate hike rise above 50%. By Friday, investment houses were aggressively ratcheting up their Federal Reserve tightening expectations after FOMC voter Bullard called for a 50bps hike in March, while also indicating significant quantitative tightening (balance sheet reduction) and perhaps intra-meeting hikes may also be necessary to get inflation under control. For the week, the S&P lost 1.8%, the DJIA was off 1%, and the Nasdaq fell 2.2% In corporate news this week, Disney shares rose after reporting strong quarterly results, boosted by robust theme park attendance and higher than anticipated streaming service subscriber growth. Pfizer dropped after issuing a weaker 2022 outlook than expected, and late in the week said it would delay its application to the FDA to expand its Covid vaccine to kids under 5 until April. On the supply chain front, Intel’s CEO said the company expects chip wafer supply to remain tight through 2023, while FMC Corp noted they have seen initial signs of packaging costs easing. Republic Services confirmed plans to buy US Ecology for $2.2B in cash, and Republic added it plans to pursue additional tuck-in acquisitions in the environmental solutions sector.
TVC:DXY
by WallSt007
$GLD long signal on the weekly chart With Russia creating tension in east of Europe, the safe heaven of inflation is finally moving higher with hopefully a sustainable move to the upside. My method of analysis is the VCP pattern setups for all my swings. Refer to Mark Minervini for the detaisl of the VCP setup but basically it ensures that no selling pression is near overhead of us. Weekly candles also closes between the 2 and 1.5 dev Bollinger Bands meaning that bullish trend is validated but not too extended like the last time we hit similar levels. Increases in volume is also a good sign. My targets are 174.96/178/180.44/183 My Stop loss is at 170.54
AMEX:GLDLong
by phongthienphihong
GDX about to break out?It has been many fake outs, but yet again, the GDX is attempting to break out, one that starts with a nice long bullish marubozu type of candle on both the weekly and daily chart. The weekly chart had a gap and run marubozu, with MACD turning upwards but not yet in bullish territory, nor clear of the 55EMA. The daily chart had a decent long bullish candle that is supported by the technical indicators. What needs to happen over the following week is a proper breakout and sustaining above resistance turned support levels.
AMEX:GDX
by Auguraltrader
Gold preview?Amidst the equity market rout on Friday, Gold made an attempt to break out. The weekly chart shows a decent attempt to close higher than previous weeks (to months), but closed the week short of breaking out. The daily chart reflects that attempt and the breakout was not sustained, although it clocked a higher high. Technicals appear to be turning bullish, but not just yet Am left wondering if this is a preview to Gold starting a new bull run. If it is, then this may be the start of a multi-year upside run...
COMEX:GC1!
by Auguraltrader