top of page

Gold in a bullish trend

For about one and a half month, GLD – the SPDR Gold Shares – moved in a range we show with the blue box in the chart.

As soon as GLD broke out of this box price moved mostly along the upper Bollinger Band, while the 10- 20- and 50-day exponential moving average sloped up below price.

The above are signs of a strong uptrend, which currently shows some weakness as price touched its 10-day exponential moving average. The huge bullish candlestick, however, is an indication that price will resume its bullish trend.

Our momentum indicator, MACD, is ready to move above its signal line again provided momentum will regain its strength.

Finally, GLD’s Relative Strength is still moving up and above its 20-day exponential moving average.

Featured Posts
Check back soon
Once posts are published, you’ll see them here.
Recent Posts
Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square
bottom of page