Tuesday, January 21, 2014

3 Charts on Gold

Chart #1: Here is the technical take from Kitco News ...

From Kitco: "Physically backed ETPs rose by 7.4 tonnes on Friday (driven by SPDR), the first inflow in almost a month and the largest daily inflow since 31 January last year," according to Barclay's analysts.

Chart #2: Here is my technical take on the SPDR Gold Trust (GLD) ...

You can see that the easiest path for the GLD is to go higher. If it makes a 50% retracement, it will break the downtrend. It's anyone's game at that point. 

Chart #3: Gold Miners

Here is an analysis from @TradingView ...

According to this analysis, at the minimum, we should see a nice little rally from here. You can see the original chart HERE.

Good luck and good trades.

1 comment:

  1. Tradingview's idea of analysis is to draw a red arrow pointing up?