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GLD

$GLD long signal on the weekly chart With Russia creating tension in east of Europe, the safe heaven of inflation is finally moving higher with hopefully a sustainable move to the upside. My method of analysis is the VCP pattern setups for all my swings. Refer to Mark Minervini for the detaisl of the VCP setup but basically it ensures that no selling pression is near overhead of us. Weekly candles also closes between the 2 and 1.5 dev Bollinger Bands meaning that bullish trend is validated but not too extended like the last time we hit similar levels. Increases in volume is also a good sign. My targets are 174.96/178/180.44/183 My Stop loss is at 170.54
AMEX:GLDLong
by phongthienphihong
GDX about to break out?It has been many fake outs, but yet again, the GDX is attempting to break out, one that starts with a nice long bullish marubozu type of candle on both the weekly and daily chart. The weekly chart had a gap and run marubozu, with MACD turning upwards but not yet in bullish territory, nor clear of the 55EMA. The daily chart had a decent long bullish candle that is supported by the technical indicators. What needs to happen over the following week is a proper breakout and sustaining above resistance turned support levels.
AMEX:GDX
by Auguraltrader
Gold preview?Amidst the equity market rout on Friday, Gold made an attempt to break out. The weekly chart shows a decent attempt to close higher than previous weeks (to months), but closed the week short of breaking out. The daily chart reflects that attempt and the breakout was not sustained, although it clocked a higher high. Technicals appear to be turning bullish, but not just yet Am left wondering if this is a preview to Gold starting a new bull run. If it is, then this may be the start of a multi-year upside run...
COMEX:GC1!
by Auguraltrader
Very Long Term Bullish Outlook for GoldThis is the GLD but should apply to any gold investment option as this plays out. Very long term cup and handle pattern on gold's chart. Weekly candlesticks here with the beginning of the cup starting back in 2011. Handle is forming right now. Might not see the lid tested until 2024, with the full trade playing out potentially as long as 2029. That said, some targets are met very quickly after the lid breakout, something like 2025 in this case. With the price of gold currently at ~$1780, a 54% increase from here would put it in the $2740 range.
AMEX:GLDLong
by ImportantImports
1
GDX Lame Duck ?This week, the GDX did a lame effort to test the 55EMA, if you could even call that a test. Hence, the 55EMA failure was pretty much a lame effort too. This downward consolidation is growing lame and old, but it does appear to continue perhaps for a bit more as I do not yet see strength in the accumulation... having said that, when it comes, it is likely to be rather overwhelming. For now, the same zone is pushed forward as a Buy Zone or Break Zone. This is like fishing... all is lame until the big bagger comes, when it really comes, it comes with a hard fight! Stay safe!
AMEX:GDX
by Auguraltrader
GDX possible bottoming out... or?Over the last couple of weeks/months, perhaps even since Aug 2020, GDX had been a tad challenging but also very intriguing. Firstly, the number of fake outs by GDX is numerous over 2021. Secondly, it is followed by failures for lower lows. Third, an opportunity appears to be forming... it is almost time. The weekly chart on the left failed the 55EMA yet again, and returned to close near the range low, on a solid candlestick. Technicals are bearish, as is price action. The daily chart demonstrates how quick a breakdown it can have, but also appears to have bounced off a long term steady support. The candlesticks show a classic example of bearish outcome, and even a possible technical bounce in the coming week. Technicals however are skewed slightly towards bearish. Overall assessment is that we have a chance of GDX bottoming out, but also at risk of a breakdown, possibly.
AMEX:GDX
by Auguraltrader
1
Gold... an odd odesseyEver since August 2020, Gold has been acting odd. It has been ranging in a rather large range, and somewhat random IMHO. The week ended strongly down with an engulfing candlestick that covered a six week range, ending at the lower end of the range with a lower low. This is a rather bearish indication IMHO. The daily chart showed this near term bearish with a gap down and long bearish candles. Oddly... appears that the adjusted downside target is 1700-1720; with a longer term upside back to 2000. Just be wary... I am.
COMEX:GC1!
by Auguraltrader
Bullish Gold? Not really - Gold would have to breakout over $1900 Last week we touched 1847 - which held, and then price dropped to about 1830 Running into a trendline which was on my chart - this trendline held. See chart at bottom. Firstly all the shorts lined up at 1845-ish got beat today. As price worked up to the next Fib level - exactly. I realize that many will see this as bullish as Gold went up while the markets were selling off - to my mind it was just a stop run. Still believe we'll head lower but right with Fed meeting tomorrow - all bets are off. Its possible that they will sweep the book - go higher and then pull the rug. You'll need expert video game reflexes to stay ahead of the Gold in next day or so. Rather than play the futures market - I've opted for safer puts in GLD - 169 Feb 18 expiry. I had closed my previous position for a $10 winner but it did not hit target - but honestly I took it off because of the upcoming Fed Meeting.
COMEX:GC1!Short
by Maximilianned
$GLD Testing Resistance Again.$GLD testing resistance on the downward trend line. Volume was massive today. Looking for follow through and a close above that downward resistance line. Looks like support was established on the low of the bearish engulphing candle on the monthly chart. I'm thinking that the high of that candle will offer resistance if the downward wedge line is flipped. (Perhaps some minor resistance at $174 as well) The volume was pretty bullish IMO. Looked like the most buying in months. Can GLD get above the wedge line? I took a position today on the close. I'm looking for a close above the wedge line to add. I'm using this weeks low as my stop. What's everyone's thoughts, feelings and ideas?
AMEX:GLDLong
by Breakout_Charts