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GLD

Watching Gold for a real breakout rally... or breakdown While many may be bullish on Gold in the short term, I find that Gold is acting a little off and weirdly too. With a fiercely dropping USD, Gold is barely in demand (in the short term). This tells of either a burst breakout rally or a slow breakdown as Gold has slowly creeped up in the last three weeks. Having bounced off the initial downside target of 1800, Gold is marginally below 1900, and it just failed the downtrending channel resistance despite clocking a series of higher lows and higher highs. Watch this one reveal its true colours... soon.
COMEX:GC1!
by Auguraltrader
BTD on $GOLD $GLD $GDX $JNUG $GDXUWe got some good news on the Stim bill today but it hasn't passed FR FR yet. The House and Senate will vote today on a roughly $900 billion pandemic relief package, with the White House saying President Donald Trump would sign it. The deal includes help for small businesses, the jobless and direct payments to most Americans. The bill that lawmakers will vote on will be attached to a $1.4 trillion measure to fund government operations through the end of the fiscal year. As part of the compromise needed to reach agreement, Democrats allowed a provision to be inserted that would prohibit the Federal Reserve from restarting a program supporting corporate bonds and small businesses due to expire Dec. 31. (no more ink/paper for Powell? ) GOLD- i talked about this a while back, I'm overall bullish on Gold/Gold miner because stimulus passed = more inflation = good for GOLD fundamentally.(yea i know, who cares) $22.20 has been a nice buying opportunity for this company but you could use that area as stoploss as well. Entry $22.20 area Target $25.20 Target 2 $28.20 Stoploss 21.20
NYSE:GOLDLong
by WallSt007
2
(DXY) What Really Is Driving Gold (Yields)There is much speculation across the investor universe about what influences Gold prices and vice versa. Today I will be focusing on the false theory that Gold prices lead treasury yields and that by extension, Gold signals market crashes. The Financial Solar System Taking a look at the chart it is clear that sometimes Gold prices parallel and slightly lead treasury yields. However, if we overlay the Dollar index it is astronomically clear that the only times that Gold does this is when the Dollar's gravitational pull temporarily alters Gold's trajectory. Gold prices at the root are inversely corelated with Treasury yields. It is really that simple. The Treasury market is the Sun while Gold, the Dollar, and the Stock market are planets. As treasury yields ultimately dominate and inversely lead Gold prices, the Dollar acts as a secondary force. Yields are the only pre-signal for Market crashes and it looks to me like another leg down is imminent. However, it also looks like the dollar is setting up for a relief rally which means Gold would plummet along side stocks before the Sun sling shots it to new highs.
TVC:GOLD
by trade-God
1
GLD is clearly in a correction! GLD is clearly in a correction! Please allow me to elaborate more on an earlier article on "GLD Current Correction" on December 8, 2020. Just some thoughts on GLD SPDR Gold Trust Gold Shares NPV current correction, GLD probed the new high price of $194.20 (as of market close on Aug 3, 2020, per the weekly chart). The weekly chart of GLD SPDR Gold Trust Gold Shares NPV shows the security is currently in a correction. The correction started on Aug 3, 2020, to Friday, December 11, 2020, per the weekly chart. According to The Elliott Wave Principle, the principle tells us that five waves move in the direction of the main trend, and three waves that will follow that is a correction. I have marked the three phases of the current correction for GLD SPDR Gold Trust Gold Shares NPV with A B C. The current bullish trendline is also marked with a green linear line. Previously, I mentioned that if the price plunge below the major bullish trendline around $165.65, then there is a higher probability for a further correction. Why? One of the reason is because of human psychology. If that happens in the future, bears are more likely to feel more confident and will short sell this security more. Please note I just one to mention the subject of human psychology. There are many more reasons. Previously, I also mentioned that the current volume is low. Volume is low according to the weekly chart. I also mentioned that this security may retest the previous price level of $183.69. That is a possibility. Included is the MACD Moving Average Convergence Divergence indicator. To summarize, MACD Moving Average Convergence Divergence is a trend-following momentum indicator. The weekly chart is showing the indicator MACD at a major point. Will MACD reverse the current trend or continue lower? This is a big discussion and I think I will save that for sometime later. To summarize, GLD is clearly in a correction phase! MACD Moving Average Convergence Divergence is at a major stage. Will GLD resume the current uptrend or will the current correction continue further? That is up to the market's final decision and let leave that for another discussion and many further interpretations. Thank you for reading! Please click Like and click Follow to see more. Greenfield Disclosure: Just an educational market opinion by Greenfield Analysis. This is not a recommendation. Greenfield Analysis has no investment in any of the securities mentioned in the article, no plan to initiate a trade in any of the securities mentioned, and does not receive any compensation for this market opinion.
AMEX:GLD
by GreenfieldAnalysis
GLD Current Correction! GLD Current Correction! GLD is an investment fund that tries to achieve the performance of gold bullion less the expenses of the fund. This fund is currently testing the previous high on September 6, 2011. The fund had a strong bull run since May 28, 2019, and is currently having a correction. I have indicated the major bullish trendline on the chart of GLD with a linear green line. If the price plunged below the major bullish trendline and below $165.65 then I expect a further correction. Otherwise, currently, I have a short-term price target of $183.69 for GLD. Volume is low right now with the current correction; therefore, I expect GLD to retest the previous price level of $183.69. Just a humble market opinion by Greenfield Analysis. This is not a recommendation. Greenfield Analysis has no investment in GLD, no plan to initiate a trade in GLD, and does not receive any compensation for this market opinion. Please click Like and follow to see more. Thank you for reading. Greenfield
AMEX:GLD
by GreenfieldAnalysis
Gold Buy Signal!!Gold retraced nicely from 1750/60 area, and i believe that the last bounce is impulsive as we can see a 5 wave formation momentum. that means any pullback for gold between 1820-1805 level is an opportunity to long gold. i know that the vaccine news can work against our analysis but with all respect i think that the market already discounted the vaccination news. so gold most probably will be affected by the stimulus program that will be adapted form the treasury.
TVC:GOLDLong
by josephdahrieh
GOLD - WHAT IS THE DEAL WITH NOVEMBER?Gold has entered the pivot zone. The hard metal is always a hold to me personally, but it helps to study the charts to get an idea of the algorithmic driving forces and other oddities. In this case, I couldn't help but see this Nov Nov Nov trend and the math behind the madness. The pattern suggests it'll be supportive. Watch it closely the next few weeks. We need to see strength come in to confirm support and upward continuation. Do not dismiss the possibility of a deeper correction.. There's no such thing as "impossible" when in comes to financial assets.. especially in 2020-after all, we did see oil trade MINUS $37 this year. Keep an open mind while in wonderland.
TVC:GOLD
by gghsusa
14
Weekly Gold chart shows weak technicalsLast weekend was warned of an imminent drop in Gold, which happened just on Black Friday. The weekly gold chart suggests that price is lagging its indicators as MACD is cutting down into bearish territory fast Price Strength is similarly pushing down with momentum Some net buying from Non-Commercials (orange line) More net selling from the Top8 traders Having broke down two supports, the next is on the 55EMA, about 1760. And downside target is 1640 towards the end of 2020.
COMEX:GC1!
by Auguraltrader
Gold just broke down again! Yesterday was Black Friday, and gold turned down a little more significantly, dropping from 1810 to 1775 within 15 mins. This break down was previously anticipated, following a short consolidation just after a significant move to 1800. Technicals support further breakdown, with MACD and Relative Price Strength accelerating. Projections put Gold at 1750 early a December. This downdraft was not concomitant with a rise in the USD, which currently does not look likely yet. So noting this, if there is a sudden USD rally, there could be enough fuel to propel gold prices to 1640. Do recall that 1600-1640 was much earlier targeted as the bottom of the handle in the long term multi year Cup&Handle formation. So we may just get there regardless...
COMEX:GC1!
by Auguraltrader