Now I'm expecting GLD moving sideways. In my opinion this move sideways would be the best for the GLD bulls.
Depends everything on SPY - maybe the smart money is moving into GLD now before a correction in SPY.
GLD formed a nice "W"-pattern and broke the line of the downtrend which started at 2012-02-07.
GLD formed a higher high at 124. Since then it rallied...
Looking for a continuation of bearish trend in gold after failure to break above .236 Fibonacci
Tight Stop at 128.56
Target Price of 115
Bearish Fisher and MACD crossovers
The dual Fisher 34/100 along with the 34ma is a reliable signal system for spotting minor & major bottoms / tops and trend reversals. The basic signal: when both Fisher are above mid point trend is bullish and when both are below, trend is bearish. But like so many indicators there is a delay compared to price action. So Fisher patterns and divergences are used to...
This market has gone nowhere in the past month. I don't think the market is heading higher for next month or so. Its not surprising that we had a bounce from the 61.8% retracement area but a low volume clearly tells that a lot more downside is coming and no one is accumulating gold as of this time.
Actually I interested in options more than stocks, so, I prefer to use PUT rather than short. the GLD is under long-term-bearish trend as EM 30 showed. After reviewing most indicators I found no any significant signs of reversal or weaken trend. So, I suggest to buy PUT option of GLD for Sep strike 120 near to 2.5$ to make more than 100% profit. the stock target...
I will suggest bullish in case 122.20 broken this will indicate the positive Divergence seen in MACD (Daily) with reverse head and shoulder seen in 4H chart up to 129.50 , then if broken with daily chart i would suggest a strong bullish indication following the power of divergence to 149 again , let take it step by step and focusing on 122.20 ......BE ATTENTION...
Gold has another counter move/retracement. According to Investopedia, "The movement of a security's price against the current trend. A counter move occurs soon after the original trend and in the opposite direction, but by a lesser amount. Gains had by trading on countermoves are usually smaller because the full market swings are not recognized. " Source:...
everybody hates gold now => time to load up especially if you've missed the 5 years old train. My bet is Gold will retest its highs in the following months. This is a terrific opportunity to express a contrarian view. All central banks are in money creation business till infinity. This is a no-brainer really.
