Get started

GLD

Long Term Structure of Gold Futures MarketI've been watching this structure build all year. It's still developing, and I'm not expecting that a breakout is imminent yet. A breakout above this formation should lead to a significant rally. My fundamental outlook on gold is extremely bullish as well. Just look up a chart of the M2 money supply on the FRED website. I'll be treating any dips below $1700 as buying opportunities, expecting $1671 to hold as support. I will use this signal to opportunistically accumulate shares of gold and gold mining ETFs.
COMEX:GC1!Long
by iamroot
US Market Technicals Ahead (18 October – 22 October 2021)Better than expected Q3 earnings reports from major banks powered global stock indexes to a winning week with most banks beat significantly on the top and bottom line. The earnings season continues this week, with companies such as IBM ($IBM) , Netflix ($NFLX), Tesla ($TSLA), Intel ($INTC), Johnson & Johnson ($JNJ) and P&G ($PG) reporting their results. Elsewhere, figures on Q3 China economic growth (GDP) today will show the impact of multiple recent hits to the world’s second largest economy. The forecast is projected at 5 percent in the three months to September, slower than the second quarter’s 7.9 percent, amid pressures on factories from power shortages, supply bottlenecks and a resurgence of domestic COVID-19 cases. Meanwhile, the first bitcoin futures ETF is set to begin trading, propelling the digital currency closer to all-time highs. Here’s what you need to know to start your week. Market Technicals $SPX (S&P 500) U.S. stocks were higher as $SPX posted its largest weekly percentage gain since July, after major banks rounded out a strong start to Q3 earnings, though investors will stay on the lookout in the coming weeks for signs of impacts from supply chain disruptions and higher costs, especially for energy. The benchmark index $SPX rallied +1.82% (+80.03 points), closing the week at 4,471 level. $SPX have broken out of all major moving averages (notably its 20D and 50D MA) on the final day of the the week, a second follow through price action after an imminent intraday reversal on Wednesday session. The immediate support to watch for $SPX this week is at 4,320 higher low support level, potentially re-establishing its mid-term uptrend channel. Earnings Dozens of companies will be reporting in the coming week, including Tesla ($TSLA), Intel ($INTC) and Johnson & Johnson ($JNJ), as the first major wave of third quarter earnings results gets underway. On Thursday Netflix ($NFLX) kicks off third quarter reporting for the ‘FAANG’ group of U.S. tech giants Facebook ($FB), Apple ($AAPL), Amazon ($AMZN), Netflix and Google-parent Alphabet ($GOOGL). The video streaming company said “Squid Game” has become its biggest series launch ever and Bloomberg reported that the megahit will create almost $900 million in value for Netflix. Chinese GDP In recent months the Chinese economy has taken a series of blows from the Evergrande-induced property market crisis, outbreaks of the delta variant, an energy crunch, supply bottlenecks and soaring commodity prices. So, investors will be closely watching Monday’s Q3 GDP, which will be released alongside figures on factory production and retail sales. Economists are expecting growth in the world’s number two economy to have slowed to 5.2% year-on-year, the slowest in a year, from 7.9% in the previous quarter. China’s real estate sector, a key driver of growth, is reeling from rising defaults, with sales tumbling and construction slowing as Evergrande, once China’s top-selling developer, battles against default on more than $300 billion in debts. Bitcoin futures ETF The first U.S.-listed bitcoin futures ETFs are set to launch in the coming week, barring a last-minute objection from the Securities and Exchange Commission. The ProShares Bitcoin Exchange Traded Fund is scheduled to start trading on the New York Stock Exchange on Tuesday. A day later, the Invesco Bitcoin Strategy ETF, would also be allowed to launch unless the SEC blocks it. The ETFs will be based on bitcoin futures that already trade on the Chicago Mercantile Exchange rather than the cryptocurrency itself amid regulatory concerns over a potential lack of liquidity and the risk of price manipulation on spot exchanges. The launch of the ETFs could pave the way for a stream of similar products, potentially fueling a run higher for the world’s largest digital currency which hit peaks of $62,892 on Friday, not far from its all-time highs of $64,778
SP:SPXLong
by jfsrev
Is Gold gonna make or break?I must say, after tracking Gold for years, I find that this year (2021) is particularly challenging... In any case, it is now in a larger weekly triangle, and I am left wondering IF the next few weeks will see Gold shift out of the triangle and break out upwards. Watch the green circle area... There is some serious support at 1750, but no ignition for take off - yet. Jury is still out, and while I project, I prefer to wait a bit for this one. Gold is a longer term mover, and one that tends to be more robust in its trends. Thing is 2021 brings in new dynamics...
COMEX:GC1!
by Auguraltrader
1
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