AMEX:GLD   SPDR GOLD SHARES
Looks bearish here as it could be forming major macro bear flag/pennant pattern and if it breaks 121-122 zone w/ volume then it could test 95-98 zone for the extension of the move & this could happen in the next few months.....it looks like the major line or zone of support is around the 90 level which would be around 900 or so actual Gold             price.....this area is actually around the 50% retracement from the long-term bull rally that ended in 2011.....looks like the downtrend or bear trend could still be going w/ gold             or GLD             until it reaches this 90-98 zone which could be around the late 14' until it reaches this zone.....so gold             may not break out to a new bull trend until the 1st part of 15'.....as always watch volume for confirmation

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djflowmaster
$GLD
djflowmaster about GLD 2 years ago
djflowmaster
GLD
djflowmaster about GLD 3 years ago
timwest PRO
2 years ago
If it goes lower it will look very ugly, I agree. If it turns up from here it will look like a massive base. It's last downtrend failed and could be poised to rebound. I think people have been selling their gold to buy real estate... So, oddly enough, I am watching housing to alert me to coming shifts in gold.
+2 Reply
andrew.berg PRO timwest
2 years ago
I agree, very messy here. Tough to trade
+2 Reply
djflowmaster timwest
2 years ago
Interesting about the shift to housing/real estate......it does seem like that is coming back. Buying RE for investments & flipping properties.
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timwest PRO djflowmaster
2 years ago
Real estate was yielding 40% or more, cash on cash, when real estate bottomed a couple of years ago. So, it was easy to see that it made sense to liquidate ZERO yielding gold and buy REAL real estate. That trend has gone to a logical end here, but yields on rental properties are still quite decent, but nowhere near the amazing yields from before. A market is never in a vacuum. It must be analyzed relative to other markets.
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