Category Archives: Uncategorized

The Gold Chart Is Starting To Look Good

The SPDR Gold Shares ETF (GLD) have been tracking steadily lower for the last six months. There have been attempts to stabilize along the way, but they all failed and the erosion in the precious metal continued. Over the last month, however, the ETF has stabilized and formed a pattern on the daily chart which… Read More »

Gold May Be Breaking Out Of A Five Year Base

The SPDR Gold Shares ETF (GLD) dropped 45% from its 2011 high to its 2016 low. It has been basing under the 38% retracement level of that range for the last five years. This extended period of horizontal consolidation has formed a “W”-bottom with resistance situated in the $132.50 to $132 area. There is a… Read More »

Gold Ready For A Volatile Move Higher

The SPDR Gold Shares ETF (GLD) has been moving in a triangle formation for the last two months above horizontal support in the $124 area. On Wednesday it broke above the triangle downtrend line and its 50 day moving average. Overall volume jumped higher and the Chaikin money flow index is firmly in positive territory.… Read More »