Bernie Schaeffer
Bernie Schaeffer On Charts

The SPDR Gold Trust ETF (GLD) Languishes Below a Key Trendline

Posted By: Bernie Schaeffer 06/17/2012

Click to Expand

The gold ETF violates historical support at its 320-day moving average
view all

Trader Comments

Beth Gaston:

This post is complimentary to Bernie’s previous post on GLD (linked here). Together they provide a pretty complete road map of levels to watch for on this ETF.

Tony Venosa:

Commercial traders’ have the lowest net short position since 2008.  Rallies have had a tendency to occur in similiar conditions in the past.

Joe Bell:

From a price level perspective, the $160 level was an area of congestion from early March to mid May.  This could be a short-term resistance as well.

Ryan Detrick:

GLD is also caught between its 10- and 20-month moving averages.  Looks like a big move is coming soon and which breaks first could be a clue of the eventual direction. 

Related Charts

Another Reason to Watch Dow 15,000

Bernie Schaeffer 10/07/2013

Grading Stocks, Bonds, and Gold

Bernie Schaeffer 02/01/2013

Partner Center

© 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: service@sir-inc.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.