GLD/SLV Ratioif history repeats itself it may be time for SLV to outperform GLD. Look at peaks and Fib retracements. Interesting setup here.
GLD trade ideas
GLD: Up or Down?Well, at the stock market it is always about up and down movements. Our primary expectation is that the course will continue to drop unter $160.69, but because the colored zone was not hit before, there is a good chance that we might see a temporary surge, before prices drop.
Happy Weekend!
Gold should have a great decemberGold as well as silver should do very well in the coming weeks and here's why
1) Precious metals are in a bull market so trend is your friend; buy every dip
2) A breakout has taken place after forming a proper inverse H&S pattern; this is just a re-test (see related ideas)
3) Cyclicality says that gold has fallen into its cycle date ~dec 8th so could turn around from here (this is the chart above)
TAKEAWAY :
- as usual a catalyst should show up to justify the moves in the near future; my guess is it could be cyber related
- my first target is 175 and second target is 178 on GLD
GLD breakoutGold made a move last week despite strength in the DXY (dollar index). Historically gold has been seen a hedge for inflation. It seems to be catching a bid for that reason now. If gold is to continue it's upward momentum it should hold near or above the green box. No position currently, but I will watch closely. GDX and GDXJ can be good instruments to play if gold confirms a breakout.
Multi-year cup and handle on #gold $GLDI'm a fundamental analyst first and foremost so I've been struggling with why gold hasn't been working as inflation accelerates to mid singles y/y percent growth and only looks to be going higher due to labor constraints. I thought $BTC and #crypto took share from gold but I now think most HF investors that were in BTC are out so not sure that is the case anymore. And, crypto is now in down cycle so gold should be able to regain some share. From a technical perspective looks set to break out of this multi-year cup and handle formation, which would be a huge move.
$GLD - attempting a breakout on weeklyGLD has been lack luster since it rose due to covid as a safety hedge. It has not performed as a hedge against inflation but to be fair, we are only now getting the real data to support the fact that inflation is here and continuing to rise. These two lines of resistance are important as we continue to watch what happens going forward. If it continues into next week, we could easily see GLD above $200. In the next couple years, GLD could reach $240-250.
This is not a recommendation to buy or sell. It is for information purposes only.
I do not have a position but I have clients with this and who own gold bullion.
GLD WeeklyAMEX:GLD weekly looks bullish.
20 EMA crossing back above 50 EMA with MACD crossing positive. It is just shy of breaking the top trendline so it might be wise to wait for that before going long. Last week's bar was a bullish outside bar right on top of both EMA's.
LONG GLDLooks long to me here - do your own research - nice cup and handle on the monthly and Higher lows on weekly.
Good Luck.
Double Bottom on Gold TrustAs you see on the Chart back in March SPDR Gold Trust had a double bottom and it took it 63 day to reach the target.
We have the similar thing happening with a double bottom and take profits are in the top box.
GLD, losing the shineGLD, on daily charts depicts a very grim picture. GLD not only seems to have lost some shine recently, but the outlook also looks grim. 14 day and 28 day cycles are observed in GLDs charts and while we are in the rising phase of the smaller cycle, price is not showing any strength. The Bollinger bands are in expanded shape. I would look for price to move sideways or come closer to its 20 day average. That should be a great position to buy some puts/ or short GLDs. Will be looking for other technical indicators for confirmations as trade develops
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.
GLD: Go Low! ☠️☠️☠️The GLD is approaching his support at $160.69. We expect it to fall under this line and end the correction further down below. Only from there, we see an upward potential.
Happy weekend!
Gold potential to reach this pointChina Ever Grand(Real estate) collapse. Gareth Soloway’s predicts Gold will bounce at this point
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.
Gold (GLD) ready to bounce off long-standing trendlineGLD is getting ready to close this week on a long-standing (multi-year) trendline. With the current conditions with skyrocketing US dollar debt and global uncertainty caused by COVID, I expect GLD to move up to a target of $175 to $178 in the coming months, at a minimum.
TrendyTrades: GLD AnalysisBullish on GLD (GOLD) here with multiple PTs to take profits. We broke out and see some strength to the upside. You can use GLD has confluence to your XAU/USD plays as well.
Short GLD until $162Short GLD till we hit 162, then long!
Seeing more down side in gold for the next week or so.
