Tag "gold chart"

Gold Trading Update: Overbought But Indicators Bullish

In our recent article, we looked at the strong seasonal tendency of Gold (GLD) to outperform during the month of January. The Gold ETF (GLD) bottomed in mid-December and rallied almost continuously until the start of January, where it consolidated around the 125 level. Since then, GLD appears to have…

Gold/Dollar Ratio Testing 800 Pound Resistance Here!

It’s been a while since gold bulls were able to celebrate something more than a swing trade. Will 2018 bring gold bulls the breakout they’ve been patiently waiting nearly 5 years for? Since the 2011 top, there has been plenty of failed rallies and sideways grinding. But the last 13…

Precious Metals Update: Gold Bulls Patiently Waiting

The iShares Gold Trust (GLD) rallied into year-end and is now in a consolidation. Gold bulls (especially near-term) are patiently waiting for its next move. A breakout of the recent consolidation would put 130-135 in view for the Gold ETF (GLD). On the GLD weekly chart, the yellow metal remains…

Can Gold Bulls Capitalize On U.S. Dollar Weakness?

The U.S. Dollar plays a big role in commodities prices. It’s always a “must-watch” for commodity traders. Typically, a falling Dollar bodes well for commodities (priced in dollars). And we’ve seen this dynamic play out with Gold and precious metals of late. One indicator that gold bulls and bears like…

Gold Bulls Hope This Chart Pattern Leads To Big Rally

The past 6 years have been difficult for gold bulls. After the 2011 market top for precious metals, gold experienced a waterfall decline followed by a “lower low” and more sideways price action. Every rally seemed to stall out. Every hope was met with “not this time”. That type of…

Gold Prices Pivot Higher As Strong Seasonal Period Approaches

Earlier this month, as Bitcoin mania was in full swing, we checked in on the other pure store of value:  GOLD. We discussed seasonal tendencies and potential timeframes for the next gold swing higher.  Considering that January is a strong month for Gold, it’s not surprising that a rally is…

Going For The Gold? Mining Stocks Trying To Break Out

After three months of declining gold prices and falling gold mining stocks, the winds have changed in December. Both Gold (GLD) and the Gold Miners (GDX) are rallying sharply. Can the Rally in Gold Mining Stocks Continue? As the chart below shows, the Junior Gold Miners (GDXJ) are breaking out…

Gold Trading Near An Elliott Wave Decision Point

As we approach the turn of the year, precious metals appear to be at a decision point. In this article we look at two scenarios for the SPDR Gold Trust ETF (NYSEArca: GLD). Our deflationary outlook for the U.S. Dollar has us favoring a bearish Elliott wave count for gold…

Chart Spotlight: Gold / U.S. Dollar Ratio Near BIG Level

Gold bugs are beginning to stir, and for good reason. 2017 has seen domestic and geo-political tensions escalate along with a pullback in the U.S. Dollar. BUT, gold prices have yet to record a convincing breakout and still remain in a bear market. Below is a chart that gold bugs and gold…

3 Reasons Why I’m Neutral On Gold Prices

The iShares Gold Trust (NYSEARCA:GLD) continues to oscillate around its flattish 200-day average, frustrating bulls and bear alike. Gold prices and the Gold ETF (GLD) are most likely being held hostage by the action in Treasuries and the U.S. Dollar. Treasuries via TLT (NASDAQ:TLT) have rebounded after what looked like a false…