Interesting breakout for GLD on monthly chartInteresting breakout, for now, hasn’t been able to hold the last couple of times. MACD is curling here too.
GLD trade ideas
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.
GOLD CUP AND HANDLEholy boomer rock this baby lookin like a snack.... decade long cup and handle?
blastoff
GLD | NeutralGold is still struggling for the uptrend, it looks neutral/bullish on daily chart but still bearish on weekly.
Still unclear for longer opportunities.
GLD Long Term $1350-$3750+On the monthly chart it's very obvious that gold created a almost decade long base where it traded sideways. Typically such moves indicate accumulation of the asset, and on the charts look like "cup and handle" formation. Over last year and a half price has been in the "handle" part of such formation. It is very bullish long term for gold. Outside of the chart there are also obvious reasons for higher prices in gold. Fed has been trying to achieve inflation, which is finally here. A lot of commodities already had large price increases over the last 1-2 years and gold seems to be the last one in line. I came to the conclusion that once price is on the move we might see higher levels than everyone anticipates. I dont have a specific price target, but I noticed a trendline that is extending from 2006-2011 bull market. If price were to start going up vertically in the next few quarters it would have to reach $1,350 to retest that trendline. Assuming price wont go immediately vertically, and that bull markets might take years to complete, say in 6 years that trendline will be hoovering around $3,750, and price intersection with that trendline goes up dramatically as time goes on.
I think the moral of the story for me here is simple: $$ invested in gold has a possibility to 9x-25x over next 6 years or more over longer time frame. Considering how gold has been hated lately and Bitcoin proclaimed as a "new digital gold" by a lot of media outlets only makes this case stronger. Once gold is running and everyone is talking about it, then it will be time to reduce exposure and sell.
GLD $157 then $195 and higherGold has been consolidating since Aug of 2020, after prior upwards move. In my view long term price should increase substantially, primarily driven by inflation. In the short term I am expecting a move to $195. Prior to this move I am seeing a decent possibility for price to reach about $157 which could coincide with Fed's rate hikes and or stock market decline. At this point everyone sees cup and handle formation (on monthly chart) and once price starts to itch above $195 we should see long term bull market.
Gold ~ GLDI want to see a breakout to the upside between now and march and i'm quite confident it comes.
$GLD largest weekly inflow since covid crashspdr gold trust had its largest weekly inflow since the March 2020 covid bottom.
gold is breaking out of a bullish flag + triangle formation that started February 2020.
easy $2000+ , anyones guess after that
my favorites $NEM $GOLD $AUY $HL $MAG
$GLD breaking outGold has been the worst inflation trade of 2021. Maybe it was due to the inflation trade was not enough with alternative non correlated assets like bitcoin and others. We have seen people flying into these "uncorrelated" assets only to see them become more and more correlated to market moves. Gold has been the uncorrelated asset for a long time. With this breakout, it is easy to see the direction of fund managers. Safety is becoming more important and there is very little safer (to institutions) than gold. $166 or $162 stop prices are good levels to make sure you do not get stuck holding the bag. My firm moved from underweight alternative strategies to overweight at the beginning of the year. Gold, oil, floating rate funds and a few other places can shield you from the growth drawdown that is expected. Lastly, I expect a bounce here soon to suck in more stupid money before a further decline in indexes so no rush. Average in over the next couple months as prices can easily reach $200+ in coming months. From there, we could reach $300 if fed cannot control inflation. Risk return here is worth a look.
This is not intended as investment advice. It is for informational purposes only. Good luck!
Gold poking its head above pennantGold has formed a decade long Cup & Handle and looks ripe for a major break out from a bullish pennant after a long period of consolidation. We are in the ideal macro setting considering inflation and selloff in equities.
$GLD Ready to Breakout?Looks like GLD is putting in a series of higher lows except one oops lower. In addition, it is in a wedging pattern which is showing less volatility. If you are a Mark Minervini fan, a Volatility Contraction Pattern (VCP). Chances are good if this break to the upside (it's close) with volume, it could be a good long trade. If I take this trade my stop would be just below the short term downtrend line. Ideas, not investing / trading advice.
GOLD WILL PROVE ITSELF AND PREVAIL AS SAFE HAVEN AMIDST SELL-OFFAmidst current volatility and increasing fear, inflation, supply cuts, China's uncertainties, pandemic, Fed's decision making --- Gold is holding. This may trigger a breakout upside and leave retailers behind the surprise. Institutions may be shifting cash to safe havens like this instead of a more speculative assets.
make gold great again :/last days we see a volume increase and some bullish indikators like momentum and stochastik. but also we're hitting a gap resistant in the gold-ETF. i would wait for a consolidation respectiv a bounce back to the 170$ support to get into it.
overall i think with high inflation and all the crisis over the world goldcould be more attractive in the next time.
also the kryptos bounced back hard which is due to the fact that the interest rates are climbing a bit. kryptos are the new gold some people say and yes thats true. but now could be maybe a little switch to gold back again.
have a nice day, greetings from germany
Gold LongDescription on the chart.
The idea is to play a possible short trap that could fuel a movement towards the upside.
$GLD Testing Resistance Again.$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?
$GLD wants to break out of the multi-month bullish pennantNeeds to be confirmed on the daily and weekly chart. $GLD attempting to break out of its multi month bullish pennant. Recent ATHs are a minimum target.
I'm diggin' GOLD, and you should be too.I like GLD. At least right now I do. A rather symmetrical triangle has formed, and normally that implies continuation. That's why I have zoomed way out to the weekly (and even monthly) bars to see the past trend which it is supposed to be continuing. If you look on a long time frame the last leg down looks very much like a bull flag correction and it's reasonable to think it'll break upwards. If gold is still valued as a hedge against inflation it should also ride the tailwinds of the current macroeconomic situation.
I put the bollinger bands on to show that volatility has also lowered (bands have squeezed together). This is normally a precursor to a big move afterwards..... and in this case I believe most evidence is pointing towards the sky.
GLD initiated bullish crossover last monthGLD triggered a bullish aggressive crossover last month (Dec) within what looks like a multiyear bull flag/bull pennant. If successfully consolidating in bull pennant, could produce a new leg higher in the coming months/years. Dependent on the following factors: falling real rates (higher inflation / lower nominal rates - one or both), USD relative to global currencies, precious metals demand, narratives, falling economic activity.
$GLD Decision Time.Looks like an epic cup and handle in the making for $GLD. It's getting close to make or break time. I'd like to see a break above that long term downward trend line on the possible handle. The $DXY chart suggests that the dollar is headed for a secular down trend. That chart is also getting close to an inflection point IMO. Maybe the Gold bugs finally get their day in the sun? A break above that downward trend line would be bullish and a good entry point for those with a bullish bias.
