Gold on Bullish Up Trend!

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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.

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