Gold is Cheap! Is it the right time to buy Gold?

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Gold has dropped a lot and getting near to the 5 years low. Gold is getting very attractive at the current level for many gold lovers, and many investors are tempted to buy gold at this level. However, technically speaking base on the chart, there may be more down side coming after the Gold (GLD) has broken the significant support at $115. GLD is trading in a confirmed down trend.

GLD Nov7-2014 (5 Year)GLD Nov7-2014

Currently GLD is rebounding from the low of $109 but $115 will serve as a Support Turned Resistance. If GLD is unable to break this resistance, the price target will be $106 base on 161.8% Fibonacci Expansion.

Original Post by Marubozu My Stocks Investing Journey

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Gold ETF (GLD): Is it a Good Time to Invest in Gold Now?

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Base on the long term chart pattern, GLD has found a Double Bottoms at $115 and also broke the descending trend line resistance (Green line). Thus, it can be concluded that the down trend has stopped for the time being and GLD is currently in the sideway consolidation.

Original Post by Marubozu @ My Stocks Investing Journey.

GLD Long Term Mar28-2014

Base on short term chart, GLD is currently retracing after finding a recent top of $133.71. Base on the Fibonacci Retracement Level and Fibonacci Fans, GLD should be finding a support between $124 to $125. If this support holds, this will be a formation of Lower High with price target $145 (161.8% FR) –> Up Trend pattern.

GLD Short Term Mar28-2014

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