Gold breakout This is obviously not good for the broad market. However, it's a promising sign for the ones who still trust in gold and other precious metals.
If you want a nice entry, wait for some consolidation, because the daily RSI is overbought. Buying here could be riskier than usual.
Resistance: 180,35 (61,8% Fib retracements from the highs)
Support: 174,89
Price target: 183,67
9840 trade ideas
$GLD Monthly Cup n HandleWorld for some reason keeps feeling shakier and shakier - added some defense to portfolio by adding $GLD. Took a look at the chart and I'd have to say it looks like we are working on a years long cup and handle, where we just broke through the right flag - let's see if we see a pop higher or it is a fakeout.
$GLD Breaking out!!!!!Strong gap up in GLD today. Usually, it will pull back and fill that over the next couple days/weeks and then run. However, it could be a gap and run in a new "favored asset". Meaning it is a great time to be adding today, tomorrow, and the next week under $180. GLL
This is not a recommendation to buy or sell. It is for informational purposes only.
Gold vs Fossil Fuel comparison chartHere's a Gold vs Fossil Fuel etf comparison 15-minute chart week to date:
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SPDR Gold (USA: GLD) Breaks Triangle on High Investor Interest🌟SPDR Gold Shares Trust (USA: $GLD) holds gold bars and from time to time, issues Baskets in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust expenses. The Sponsor believes that, for many investors, the Shares represent a cost-effective investment in gold.
$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
Gold back in style ?Gold had a strong finish to week
showing nice accumulation with solid volume on its way to breaking the 171 mark
if we can break past 178 we could see it test the 185 level
ill be posting a weekly chart on this as well as we are actually right at resistance
either way both the daily and the weekly charts are pointing towards more upside for GLD
thoughts?
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GOLD | Trouble in the water?In the following GLD chart we can see a symetrical triangle forming. Due to my thoughts that US:OIL will go down in the following period, energy costs will also dwell.
Lower energy costs + hawkish fed = inflation will be diminished -> gold pullback.
I might be /hella/ wrong.
Only time will decide.
Gold Attempts a BreakoutThe SPDR Gold Trust ETF has squeezed into a tight range since rallying in mid-2020, and now it may be attempting a breakout.
The main pattern on today’s chart is the pair of converging trendlines running along the highs and lows. GLD made a higher high today for the first time in over a year.
Second, notice how the 200-day simple moving (SMA) turned higher in mid-December and has continued to rise since. That’s a potential sign of the longer-term trend growing more bullish.
Third is the overall macro context, with investors increasingly worried about inflation and Ukraine tensions. Crude oil is back to its highest levels since 2014, while other commodities like soybeans and corn are rallying. That backdrop can potentially increase demand for gold – especially because of its added status as a safe-haven asset.
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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.