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

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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