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...
If I were in gold I would be long. Let’s see what happens.
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...
IAU just bounced off the bottom of it's trading range. The strength of the $ may limit this run.
Excellent retest of prior break out! First target $12.90. Accumulation phase. Will add on deep weakness if able.
Accumulating at retest of break out. $12 has been powerful support/resistance for sometime.
Bullish triangle pattern forming for gold $GLD $GDX $IAU
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...
IAU has broken the support line twice, but this third time (which is also telling, since it's #3), may endorse a new move down if it can't close above the support and/or start tomorrow's day above the line.
Dear Traders, As this iShare Gold Trust (IAU) mimics the actual Gold Futures price identically, i thought i see sometime in this monthly chart. IAU is right in the downtrend channel and consolidating in a symmetrical triangle fashion. Very soon, a breakout either on the upside or downside is going to happen. I am more bearish as according to textbook technical...
Here i present a chart i just did, to help me understand the gold situation. I think that this cup pattern isn't a perfect cup pattern, so it might seem possible for it to fail. Even if it fails, it can show us that some people want the gold to bounce back and that's important. But for now fundamentals and technicals aren't perfect and the public doesn't seem to...