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$GLD Gold ETF Daily Chart

25. August 2009• Commodities and mining, • Currencies and Inflation, • Gold, • TradingPhantasmix Tags: , , , ,  2 comments

(GLD: 168.02 -0.28%), SPDR Gold Trust ETF

2-year daily chart of GLD, gold ETF.

  • Inverse head and shoulders (bullish pattern)
  • Also bullish is the symmetrical triangle, really looks a bit like an ascending triangle, which is a continuation pattern

Since these are fairly long-term patterns (not a month or two), I think they are more reliable.

Gold should break out soon.

gld_aug25

 


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2 comments:

  1. ducati998, 27. August 2009, 14:14

    Kat,

    Assuming no change in policy from the Treasury, the fundamentals for gold are bullish. Thus we have confirmation of the bullish technicals.

    I’ve given up my flip-flops in GLD, just holding long now.

    jog on
    duc

     
  2. Phantasmix, 30. August 2009, 20:18

    Hi Duc,
    they’re trying hard to inflate but some are still calling for deflation. The jury is still out on that :)

    I’m waiting for a break out of the triangle and watching the dollar.

     

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