Thursday, December 28, 2017 11:42:54 AM
Gold has surged in the past two weeks as the Dollar has faded. It also appears investors are buying some protection after Bitcoin faltered at $20,000 before its recent decline back to $14,000. Bitcoin was a store of safety until two weeks ago when it began to crash. Now money is headed back to trusty gold. While I am a long-term bull, there is a significant swing trade short opportunity in shares of the gold ETF $GLD. Today, the $GLD hit gap fill and also a down-sloping trend line, connecting the highs from mid-October to late November. The fact that gold is near-term overbought and now has hit two major resistance points, signals a likely pull back. Swing traders can look to short gold by buying the $DGLD (3x gold bear ETF) or just shorting the $GLD. The $GLD should retrace back from its current price of $122.85 to $121.00 in the coming week.
Gareth Soloway
InTheMoneyStocks
Recent GLD News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/08/2024 03:33:22 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 01/19/2024 05:18:16 PM
- Crypto: RNDR, LINK, CHZ Emerge as Wednesday’s Top Performers, Ethereum Pilots Dencun Update, and More • IH Market News • 01/17/2024 04:51:44 PM
- Form 424I - • Edgar (US Regulatory) • 12/27/2023 04:04:08 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 12/22/2023 09:02:08 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 11/22/2023 07:49:08 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 09/14/2023 02:12:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/12/2023 08:02:07 PM
- Gold Stabilizes Near One-Month Highs as U.S. Interest Rate Hike Expectations • IH Market News • 08/31/2023 12:43:38 PM
- Gold Closes Higher, With Strong Retreat In Treasury Interest Rates And Dollar Low • IH Market News • 08/29/2023 06:20:49 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/07/2023 06:55:27 PM
FEATURED Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • Apr 16, 2024 8:52 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Kona Gold Beverages, Inc. Acquires Surge Distribution LLC from Loud Beverage Group, Inc. (LBEV) • KGKG • Apr 16, 2024 8:30 AM
Branded Legacy, Inc. Reports Significant Net Income of Over $3.8 Million • BLEG • Apr 16, 2024 8:30 AM
Avant Technologies Begins Development on Next-Generation AI-Driven Resource Allocation Solution • AVAI • Apr 16, 2024 8:00 AM
UC Asset Expected to Report $0.03/share Net Profit for 2023 • UCASU • Apr 11, 2024 10:00 AM