GLD_USD
Gold PTs 2,800€ short term, 3K long termProbably nearing the end of the second bullish impulse that started around 2,300$, PTs 2,800€. Waiting for a turnaround around that area, and a fall to the (2)-(4) line around 2,600$ to then attack the 3K barrier (which I don’t think will pass in the following months).
Just my opinion!
Gold quarterly outlookIn analyzing the gold market, I've observed a recurring pattern of ascending triangles over the past three years. Additionally, I've identified a discreet descending channel , a pattern often associated with bullish trends. Anticipating a breakout from the upper boundary of this channel by February 2024, it's noteworthy to consider the potential role of the March 2021 trendline, which may act as support in this possible scenario.
GLD SPDR two bullish breakout patterns in one!W Formation has formed and the price has broken above recently.
We then have a larger Cup and Handle forming, which the price is now completing the Brim Level.
This market is correlating well with Gold and seems to be lagging the current Gold rally. This means, we can expect upside for GLD very soon.
My first target is $174.68
$Gold $GL on accumulation buying process or another sell off.. $Gold $GLD has been falling down heavily for couple of days..
buyers came back at 1780s, and 1800-1805 will be potential for selling .. let see if big time frame buyers will accumulate at 1780s and above, or this will be another more selling to test 1760.
My bias is Neutral to bearish, and I don't see any strong bullish reversal evidence yet. I need Buyers to show their aggressiveness above 1800s area
GLD - Gold Long term Trade TechnicalsWith Dollar gaining some momentum upside, GLD should follow the uptrend from short term. Find the trading zones defined for trades, each parallel zone has it's upper line as resistance and down line as support. Follow the trend, buy/sell once the resitance/support trend is broken.
Good luck trading!
GLD Inside Ascending Triangle. Upside Breakout Due..After a nice $200+ correction from the fresh all-time highs, Gold appears to be making a new triangle which could breakout to the upside by the end of this month/early-September. While spot gold did go lower which is not reflected in the GLD ETF, spot prices did not stay below $1900 for more then 4 hours which shows there is very STRONG demand under that price. Looking to go LONG again upon a confirmed upside breakout..