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GLD

Gold & metal bull-run about to commence? SPDR GLD Trust AnalysisIt looks to me like there is a clear fractal format of the post-2020 gold market on the SPDR GLD etf chart. Form 1 shows a very large bull-flag type form which resolved beginning of 2021 with a roughly 13% upmove. This has regressed into a smaller fractal copy (about 25% smaller) of this form from Q1 2021 to present day which appears to be resolving down to S1 which sits at about $156. If we are looking at another 13% pump, then this wil leasily breach the post-2020 downchannel over the course of Q4 2021. Significantly, this should decisively take-back the 100dma. If the channel breaches to the upside then I strongly suggest $178 will be within striking distance and could be the next significant resistance to be tested and possibly breached. After that, the peak of the GLD bull market resistance lives at $194. As a short-to-medium term outlook, I expect another $5-$10 worth of downside (which would take the market into definitive oversold conditions on the 2h RSI) . Entry should be taken as clost to $156 as possible and from there if the flag resolves as expected we should look for a Q4 bull run in gold with $178 being first (moderate) target and more aggressively bullish traders can target $194. Between 15-30% up for grabs over the next few months if this fractal flag pattern resolves as expected either way. As a final note, I expect this movement to be replicated in non-paper $/oz gold as well along with possibly silver and other "safety run" assets.
AMEX:GLDLong
by RogueEconomics
Interesting fractal flag formation on SPDR goldAppears to be a fractal bull-flag formation on SPDR gold daily chart. Also appears to be following a parallel channel. Two distinct forms since 2020 Form 1 began with the kung flu crisis in April 2020. Hit the bottom of the channel at S1 (156.82) and rallied by 13.82%. It failed to breach the channel upper-boundary and began form 2 from there. Form 2 began with the rejection at the top of the channel and has since followed the mid-line of the channel forming the 2nd bull flag. My theory is that the flag form will lead to another test of support at S1 (156.62) and presuming we have another 13% rally from there we will breach the downchannel to the upside and In principle resolution of this form should lead to a breakout of the downwards channel. The breakout will re-test the resistance at 178 and likely break through it on a successive attempt presuming support at S1 (156) holds. Upside target from there is 194. This market is adhering to a rough fibonacci time outline so I expect to see this setup resolve within the last quarter of this year. Entries around 156 exits around 178. Aggressive traders could also try for 194.
AMEX:GLDLong
by RogueEconomics
GOLD in a VCP (Volatility Contraction Pattern) - BULLISHBrief and simple - GOLD is in a VCP pattern. I won't venture to try to time the breakout out of this. But the key levels to watch are $1830 and ultimately $1900. When above $1900 - GOLD will be a strong buy. However, having come up from ~$1650 bottom, don't be surprised if it retests any key support levels along the way. Obviously, if this thesis doesn't work out - watch out below. There's a lot of space below the key trend support line where the rally started in 2019... Stay safe and keep an open mind!
OANDA:XAUUSDLong
by andremkv
Gold in coiling modeIt appears that in recent months, a rally in Gold snooked many, with false breakouts that were followed immediately with reversals. This happened thrice in July August period, which was abruptly ended with a steep drop of more than 1000. And yet it bounced off hard, over the last week. Relooking into the chart patterns, the cup (or handle rather) is redrawn and retimed. A new breakout level is also set in. This time, a better chance for Gold to recover is attributed to the bullish divergence seen in the RPM and MACD. The weekly candle is also supportive with a consolidating week after the previous which had a very long tail (of demand). The lines are drawn and will be watched. Uncanny, but this appears to align at a time when equities are long in the teeth of a rally. What relationship this might bring is still open for interpretation. But I would personally leave it open for now, and let the market decide... Gold appears to be bullish on breakout over the next couple of weeks.
COMEX:GC1!
by Auguraltrader
1
COPX - bully bounce timeCOPX took another hit today and lost +4% which is a little surprising considering Max Pain this Friday is $37... maximum-pain.com Expecting a turn soon. Probably starting next week after some more pain and fear... Indicators appear to be looking for a turn on the daily, and Volume is drying up on this leg down. Potential selling climax on July 19th. Bollinger' Band width can go lower but not much IMO before a turn. New high isn't likely given the drop out of the longer term regression channel. Tradable bounce - lasting ~30 days...maybe less on deck for COPX. Maybe another 3% to 4% down. Falling knifes and all... buy the fear. Bounce Target = $40.xx See Chart Not financial advice.
AMEX:COPX
by Akksujean
1
STRIKEPOINT GOLD INC. Swing Trade PositionSUMMARY Technical Analysis: I am long the stock because I see price action has completed a corrective ABC pattern on the daily Chart. From here price action could develop a bullish counter trend. Fundamentals: The company has commenced drilling at their High-grade Willoughby property. The Company is cashed up and IF! they hit bigly then share price pushes higher. I do not share in your gains nor in your losses. Do your own due diligence. Trade safe, be well. Visit their webpage and look through their corporate presentation - www.strikepointgold.com
TSXV:SKPLong
by UnknownUnicorn212178
1
Trade Idea: GLD March 18th 140/September 17th 165 LCD*... long call diagonal. Comments: Here, I'm preliminarily pricing out a bullish assumption GLD setup, buying the back month 90 delta and selling the front month at-the-money call. I'd prefer to deploy this at that obvious support level at 160, which has resulted in some buying interest previously. If that occurs, I'd have to tweak the strikes slightly, selling an at-the-money 160, for example, and then buying whatever the 90 delta strike in the back month. The Metrics: Buying Power Effect: 22.79 ($2279) Max Profit: The Width of the Diagonal Spread (25.00) Minus the Debit Paid (22.79) = 2.21 ($221) ROC %-Age as a Function of Buying Power Effect: 2.21/22.79 = 9.7% Break Even: The Long Call Strike (140) + the Debit Paid (22.79) = 162.79 versus a spot price of 164.64 Trade Management: Take profit on the setup's approach of max (which would be 25.00). Otherwise, roll out the short call to a strike at or above your break even of 164.64 to reduce setup cost basis. Variations: Preliminarily, I'm pricing out the setup with a fairly long-dated back month. To get in with less buying power effect, look to buy a shorter duration back month 90 delta, with the trade-off being that you'll have less time to reduce cost basis via the short call in the event that gold prices keep on going down. To look for more profit potential, sell a less monied call (e.g., the 30 delta) to give the trade more room to the upside.
AMEX:GLDLong
by NaughtyPines
19