Gold has finally bottomed up! Gold ETF (GLD) is currently on confirmed uptrend after breakout from the Down Trend Channel. Base on the chart pattern, GLD will continue to go higher! Look at the upside potential vs down side risk! Yummy!
See previous post on Gold ETF (GLD) here.
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.
See previous post on Gold ETF (GLD) here.
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.
10 Years charts show GLD rebounded from 61.8% Fibonacci Retracement Level at about 100.
Things to watch out for the confirmation of trend reversal:
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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