GLD short term short, long term bull trend intact
GLD was in a down trend from March 22 until early November 22
Since GLD broke that trend it has turn former resistance into support with confirmation
on Jan 13 GLD broke through the next reistance zone around 175 and is now peaking at almost 180$
even though on Jan 17 and 18 GLD traded down and then came back strong on Jan 19 it still needs to come back and visit this former resistance for confirmation.
ADX over 20 indicates strong trend, here on the 1 day it is 40 with the +DI (green) in bullish spread (40 v 13)
50 day DEMA crossed the 200 day DEMA in late November
The price has gotten far above the 50 day DEMA, another clue that a short term correction is in order.
Since GLD broke that trend it has turn former resistance into support with confirmation
on Jan 13 GLD broke through the next reistance zone around 175 and is now peaking at almost 180$
even though on Jan 17 and 18 GLD traded down and then came back strong on Jan 19 it still needs to come back and visit this former resistance for confirmation.
ADX over 20 indicates strong trend, here on the 1 day it is 40 with the +DI (green) in bullish spread (40 v 13)
50 day DEMA crossed the 200 day DEMA in late November
The price has gotten far above the 50 day DEMA, another clue that a short term correction is in order.
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