Is Gold bottoming up and starting an up trend?

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Gold ETF (GLD) has recently broken the down trend resistance and trade about 20D/50D/200D SMA. These are the bullish signals that GLD may have found the bottom and reversed to an uptrend if GLD can stay above 115 and turn the down trend resistance to support.

GLD Feb13-2016

10 Years charts show GLD rebounded from 61.8% Fibonacci Retracement Level at about 100.

GLD 10 years Feb13-2016

Things to watch out for the confirmation of trend reversal:

  1. 200D SMA become the support.
  2. “Higher High, Higher Low” chart pattern formation.

So, standby to invest in Gold using Gold ETF (GLD) when there is a confirmation of uptrend. You can use CPF under CPFIS to invest in GLD.

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Original post from http://mystocksinvesting.com

 

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