Gold on Bullish Up Trend!

Gold ETF (GLD) has broken out from a Bullish Pennant and confirmed the uptrend. 20D & 50D SMA are sloping up, and 50D crosses up 200D SMA. With this breakout, GLD has gained more than 20% from the bottom since Dec 2015. Also take note that the recent parabolic gain in GLD is supported by increasing trading volume. Be cautious on the Parabolic curve chart pattern. You will love it and also hate it if you don’t know when to get out.  See other examples of stock charts which show Parabolic Curve here.

GLD Mar4-2016

See previous post on Gold ETF (GLD) here.

Wilmar: Pulling Back Soon?

Wilmar seems to be rejected at 200D SMA with a Bearish Engulfing candlestick pattern on daily chart. A Hanging Man is observed on weekly chart. Both candlestick pattern point to potential reversal in coming days. Opportunity to take profit for those who already have the position and buy on retracement for those who have missed the early boat.

On bullish side, Wilmar is forming a Bullish Pennant. So, also watch out a bullish breakout if retracement does not happen.

Genting: Short Term Bullish Trade?

Base on current daily chart, Genting SP looks like forming a Bullish Pennant and trading within an uptrend channel. 2/5 EMA are showing bullish signal on both daily and weekly chart. Currently Genting SP is just sitting on the 50D SMA and seems like a good support so far.

Looks like a good opportunity to have a very short trade (bullish trade) with price target of $1.46 (161.8% Fibonacci Retracement Level). Note: Genting Singapore is still on long term down trend where 200D SMA is still trending down.