GLD and AMEX:IAU have both had very good runs recently.
They both originally broke out of their wedges however, they both ended up not maintaining their trend line.
The main differences I want to point out between the two is that GLD has not gone above the bottom trend line while
AMEX:IAU has.
AMEX:IAU also has increasing volume but GLD has remained...
After an 8 week sideways range, perhaps could see an upward breakout: around the 11.65 - 11.75 area >> but definitely would need above average volume to confirm this. And also, should move above EMA50. Lets see how it goes :)
Weekly chart looks promising. The MA of 50 and 200 weeks have crossed for first time since 2005 (beginning of my chart) and they are heading away from each other a little less than 30 degrees. Could turn into a failed reversal, but something to keep an eye on. If this an upward trend starting it could be a steep climb up the chart. Who knows with precious metals...
Currently considering IAU as a hedge against potential downturns in the $ and/or in US markets. The trade isn't strictly technical, though we could say the price looks slightly over extended at the moment, so I'd wait until support is hit and an uptrend emerges again. Trade thesis comes from the increasingly likely possibility of an asset bubble deflation with...
The IAU has treated me well through this Brexit vote. I entered back on May the 10th at $12.21, and I'm looking to take profit around the $13.10 mark, which would be about a 7.5% move to the upside.
If the markets continue to go lower, I can see gold going higher. It's important to keep in mind though the markets are moving with purpose and who knows when they'll...
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
IAU
