GLD trade ideas
GLD Short-term Neutral AMEX:GLD GLD continues to vibrate in a box with the lower price at 158 and the upper price at 165. If the market continues its bull run, GLD may break the bottom of the current box range at early July (around 7/5) when it for the 4th time touches the bottom and when it reaches the underlying support line shown in green.
GLD - Textbook Consolidation!Since the breakout of the inverted head and shoulders move off the coronavirus bottom, GLD has worked on a near textbook sideways consolidation. This move is critical in that it is holding at the breakout point of the h&s breakout, but it is also holding support at the resistance line that marked the break of the three peak top from 2011 - 2013 that ultimately gave way to much lower prices (the red line). Even a break back below this support would almost certainly be met with buying first around $149 (blue line), and if that did not hold then the $143-145 area (bottom magenta line and a back up the truck scenario that could happen quick but would immediately recover). Personally I think the back drop for gold and silver is the most favorable it has ever been and it looks like there is nothing the government won't do to support this economy for as long as it takes. The mini bubble in equities has no bearing on the state of our economy and is just a continuation of how this year started which in my opinion is as bad as it was in the dot com era save the even more insane valuations. GLD also held an extremely important level in the midst of coronavirus at the $136 level. Many technicians and others were looking for a move below $130 to test the breakout of the failed moves in the prior three years around 128. GLD has had a perfect stair step move since its bull confirmation move that started in 2018. Look for some additional consolidation as it works of the RSI and MACD levels which probably do not have far to go. A break of the yellow line, and we will take out the old highs and put us into uncharted territory. Oh by the way, the miners will let us know in advance when the coast is clear. Look for a GDX 38. Two weeks should do it.
$GLD is Lined Up in Another Bullish ConsolidationGLD is still the classic option for allocation in a time of declining faith in the monetary authorities.
The question now for investors is this: will governments suddenly start to self-impose restraint on monetary and fiscal stimulus just because the economic data is starting to improve? Not likely, especially in the US in an election year.
$GLD is in a consolidation pattern for nowPeople are using funds from $GLD to finance their buying of stocks for now. Wait for a pull back in the market to get into $GLD. $GLD may just bounce around here for awhile before making its next leg higher.
GLD
1. GLD is in a clear uptrend
2. Price at the bottom of the range testing support
3. Stop at 157.75
4. Profit target 3:1
$GLD Approaches Another Bull Trend BreakoutGLD will likely be in focus this week as chaos erupts in the US and the money printing from the Fed continues unabated and holds the safety net in place.
The range under construction over the past two months appears to hold a bullish trend continuation posture.
GLD short update 2Exit all short positions -4hr timeframe from May 21 entry for profit. Look forward for long positions accordingly to your timeframe (4hr) and risk setup.
Potential Market Top Indicator GLD/SPY This chart is honestly very interesting and I wish I would have seen it before during normal market growth. As GLD/SPY hit the previous swing highs was March 23rd, the day the market began its collapse.
I'd keep this within your tool box of fancy shmancy charts for use in the future ;).
GLD / GOLD SHORTCortos en ORO a mediano plazo y largos a largo plazo. Terminando B de medio plazo, comenzando C de mediano plazo. En espera de comenzar dre nuevo su ruta alcista.
dollar will crush gold for interim - massive cup and handlethese are unprecedented times
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gold is on the rise but suplly is not fari expect gold to rise to about $161.10 area but will struggle to break to supply.
