SPDR Gold Trust Stares Down a Technical Sticking Point
Click to Expand
If a rally occurs from current levels, watch the $161 area for potential resistance, site of GLD's declining 140-day moving average. This unpopular moving average contained seven pullbacks during the rally from the '09 lows,and GLD finally broke below it in December '11. It acted as resistance in late March.
In addition, the $150 level also coincides with the 61.8 percent retracement level of the 2011 trough-to-peak move.
On a longer-term basis, a worsening of Europe or Greek exit could hurt the Euro and the potential of QE3 may hurt the value of the dollar. With selling pressure on the Euro and the U.S. Dollar, there is the potential for a flight to gold.
Bernie's latest post from this morning (6/18) looks at the GLD's relationship to its 320-day trendline. It's not pretty.
Why OIH Is Finding Key Support at $52
The One Overseas Market That's Trending Higher in 2014
A Phenomenon Worth Watching in 10-Year Yields
Why Bulls Need to Watch SPX 1,880
Global X Social Media ETF (SOCL) Tests Key Chart Levels
Recent XIV Action May Bode Well for Bulls
Why LinkedIn's Trendline Breach Could Be a Buy Signal
9 Levels to Watch for Apple Inc.
Keep an Eye on Twitter Around $40
Has SPDR Gold Trust Found a Short-Term Floor?
Why We Probably Haven't Seen the Last of RUT 1,100
Another Reason to Watch Dow 15,000
Why TLT Traders Should Heed Round-Number Returns
For Bonds, the Bottom Could Soon Fall Out
SPDR Gold Trust Rally Runs Into Resistance
Mid-Caps Nearing a Triple of March 2009 Lows
'Huge' Doesn't Begin to Describe S&P 1,550
Grading Stocks, Bonds, and Gold
Apple's One-Year Return Swings Into the Red
Is LinkedIn Poised for a Breakout?
Why $500 is the Apple Level to Watch Right Now
Fiscal-Cliff Whispers Spark SPX Fits and Starts
Time to Short Oil-Services Stocks?
After Two-Day Swoon, Where Will SPY Find Support?
A Breakout No One is Talking About
Options Indicator Flashes Potential Buy Signal
Ways to Hedge on Apple (AAPL) Before Earnings
LinkedIn: The Uncommon Trendline We're Watching
Two Speed Bumps for Builders
Does Coal Have Farther to Fall?
LinkedIn Looks to Challenge Looming Resistance
A Post-Earnings Reality Check on General Electric
Two Valuable Investing Lessons from the Homebuilders ETF
Is Bank of America Poised for Another Leg Lower?
How Long Can SPY, GLD, and TLT Stay In Sync?
The New VIX Resistance Level to Watch
Why 2,200 Matters for the EURO STOXX 50
Three Potential Speed Bumps for JPMorgan Chase
The SPDR Gold Trust ETF (GLD) Languishes Below a Key Trendline
Two Takes on Research In Motion: Daily
Two Takes on Research In Motion: Intraday
A Hidden Resistance Level for JPMorgan Chase
Featured Partners: AOL DailyFinance
© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: email@example.com
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.