iShares Gold Trust (IAU) is a passively managed ETF that seeks to match the movement of the price of gold. It provides an investment vehicle for gold by backing shares in the ETF with gold bars held in trust.
After a steady recovery from the trough of March 20th, a trend reversal starting on Aug 5th manifested as a descending triangle (or perhaps a large pennant)...
HHHL + Y1<Y2
X2 is around the same length as X1 now. It should make a reversal up soon.
It is also a good sign that the angle of X2 is a lot flatter, rather than steep.
got power up if W&R success.
Volatile market. GLD too expensive, high premium. IAU excellent alternative.
Shorting Gold for IAU $140 Strike at $0.15. GLD/Futures approximately high 140's.
While the rest of the market ran bullish at the end of the previous week, Gold dipped negative, crossing below the 30-day and 50-day moving averages. Prices are currently trading horizontally in the short term with $16 being a support level that has not been broken, despite several tests since mid April.
Low MACD amplitude swings also correlate to a near-term...
Technicals:
--------------
$16.03 and $16.61 are approximately the short term support and resistance levels, forming a channel where the price is being pulled horizontally. This area also appears to be a price consolidation point around $16.38 following an April 20th high volume day.
Fundamentals:
------------------
Gold is trending up. This momentum is due both...
Su tendencia a corto y mediano plazo es alcista pero el ratio no está muy jugoso para tomar posición.
El único indicador con señal visible es a primera vista 3MA en velas diarias.
I identified that the IAU possible to stay low in the mean time as stock market as at the brink of possible making an all-time high. Therefore, the trend is moving down.
Entry: 14.37
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...
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 :)
