This Past Week In Gold: GLD Breaks Resistance And Establishes Support
Jack Chan | Sep 27, 2015 03:25AM ET
SPDR Gold Shares (NYSE:GLD) – on buy signal.
iShares Silver (NYSE:SLV) – on buy signal.
Market Vectors Gold Miners (NYSE:GDX) – on buy signal.
iShares S&P/TSX Global Gold (TO:XGD) – on buy signal.
Central Fund of Canada Ltd (NYSE:CEF) – on buy signal.
SPDR Gold Shares (NYSE:GLD) has broken resistance and established support, providing low risk entry.
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Summary
Long term – on major sell signal since Mar 2012 when ARCA Gold BUGS was at 550.
Short term – on buy signals.
Gold sector cycle – up as of 9/11.
Traders can play for short term bounces.
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