If you have been on the fence about buying gold
perhaps this idea will help. I present a weekly chart with the possibility of gold
in this descending triangle
formation with a strong chance of completing in the near future. This position would target the 125 area by the end of this year with the possibility of breaking out and targeting 150 by mid-late 2015. Buying GLD
here with a stop at 114 and target of 125 in the near term at a current price of 117.4 at the time of this write up, gives you a position risk of 2.25-1 in the near term. Looking further out, if GLD
can break out of the descending triangle
with strong conviction, we can expect to see a target price of 150. Giving you a risk/reward ratio of an outstanding 9.5/1.