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GLD

GLD ready to run 170-180, finally?One of the most unusual things about the market over the past few months has been this "inflation fear" has not helped gold out. Typically people flee to hard assets like GLD to try to preserve value while their dollars lose relative buying power and bonds get slaughtered. arguably, bitcoin has been poaching money from the GLD trade of late. But things may be changing.... Along with my bearish BTC forecast ( ), this might even make more sense (perhaps some money rotates back from BTC to GLD after the COIN ipo?) However, finally technicals on GLD are starting to firm up! First, we have a very nice double bottom ('W') formation. Second, we have a descending wedge breakout. Third, the momentum indicators -- MACD, RSI are finally setting a northerly direction. The "easy" trade here seems to be a short term push to ~~ 170 (completion of the 'W' pattern (W bottom of 158 and top of 164 gives a 6 point upside projection to 170) (point 'A') while the more challenging one would be a push all the way to 180 (point 'B').
AMEX:GLDLong
by tacosaurus
Gold - GC Gold Futures are rising as non-commercials add to their long positions. - Currently net long 192.3k, up 21.5k. In the week to Wednesday, for the first time in 16 weeks, GLD (SPDR Gold ETF) saw positive flows, gaining $340 million (courtesy of ETF.com). In the meantime, non-commercials raised net longs in gold futures to an 11-week high. Last week, the metal jumped 3.6 percent after repeatedly defending $1,760s-$1,770s. The nearest support lies at $1,800, and of course $1,760s-$1,770s after that.
COMEX:GC1!
by TH_Analysis
4
$DXY | Dollar Index Setting up for higher than expected CPI -With CPI numbers numbers tomorrow, the market is expecting 0.3% positive change . - CPI is the Consumer Price Index which measures the changes in the price of goods and services. It is a key way of measuring purchase trends and inflation. - A higher than expected reading is typically taken as bullish for the USD white a lower than expected is bearish. - Given the current Technical setup on the DXY , the market is expecting a lower than expected CPI which would be bearish for the dollar but bullish for equities and commodities / especially precious metals. A bearish Head and Shoulders has formed and levels currently floating above the neckline; we have the MacD crossing over bearish and until that gets repaired, the DXY will most likely go lower. A measured move from this technical breakdown reflects a breakdown from 90 will provide a short opportunity to 87. - Daniel Betancourt, OptionsSwing Analyst
TVC:DXYShort
by optionsswing
Inflation is coming... Perfect buying opportunity for GOLDYall should've listened to Burry when you had the chance...it aint too late though! Markets dumping, Interest rates rising, bond yields climbing... you can only keep printing money for so long Makes sense why we have been seeing a steady rise in Gold prices the last few months! Luckily, in our favor, Gold bounced cleanly off the long term trend line support, as I charted, it also seems like it has made a massive bull flag on the weekly/daily. For anyone confused, how I obtain a price target on a bull or bear flag is you would just take the vertical distance between the "flag-pole", then apply this distance starting from the previous high. Your first target is located at the end of this distance. Coincidently, if we use the Fibs, our target would take us straight to the 2.618 at $2700! Now is certainly a great time to invest in some gold...keep an eye these next couple months!
FX:XAUUSDLong
by stockmankam
1
$GLD MASSIVE Weekly Cup and HandleStarting in September of 2011 and the handle starting here on Aug 2020. selling volume has declined and got a strong bounce off the 158.85 mark and look to be heading up for our third tap or our handle downtrend When a bullish move occurs the moving averages respond, and the 9MA (white line) on the weekly has curled up nicely with a implied EMA cross over the 50 and 20 EMA (Purple and blue lines) With metals roaring $GLD has seen some love here in the last few weeks, but as it approaches resistance we have to evaluate volume, and if investors are going to be putting money back in to Gold as market fears increase. More updates coming soon. Video update tomorrow.
AMEX:GLDLong
by SimpleStacks
3
Gold Weakly ChartJust an update about Gold... I am kinda mixed about Gold at the moment. It looked as if there were legs for a good launch, and yet it did not. Stopped short at the channel resistance only to look a bit weak, closing below the weekly 55EMA with the last two candlestick suggesting a retracement off the resistance. At least the RPM and MACD is a little supportive for a pending breakout. What is also interesting is that the Largest 8 Traders (bottom panel, yellow line) appear to be buying up Gold in the last couple of weeks. On another note, the USD recently started running up. Continued bullishness in the USD would put some pressure on this Gold breakout, tipping towards a retracement. To break out or to break down? Only time will tell...
COMEX:GC1!
by Auguraltrader
3