GLD Gold ETF Pullback for Entry

AMEX:GLD   SPDR Gold Trust
GLD has been trending up and the chart shows that volume is increased in April / May as

compared with March and is about relatively 2X. GLD is now priced at its all time high.

On the trendline drawn, GLD is rising at a rate of approximately 5% monthly. Gold prices are

reacting to economic uncertainties and the dollar value having its challenges.

Today, price is down 1-2 % dropping towards the bottom of the Bollinger Bands providing

a good long trade entry. Stop loss is one dollar below the bottom band while targets are

at + 5% + 15% and +30% as a long duration swing trade expecting rising gold prices for at least

six months. See also my idea on XAUSUD / Cup and Handle

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.