MagicPoopCannon

A Legendary Look at Gold! (GLD)

AMEX:GLD   SPDR GOLD TRUST
Hi friends! Welcome to this update analysis on the shiny, shimmery, glittery GOLD! This analysis of the gold             market, is being done VIA the GLD             ETF . Let's get right to it! Looking at the weekly chart, you can see that the GLD             continues to gyrate inside of a massive bull flag . If you've been following my gold             posts, you'll know that I am extremely bullish on gold             right now. Particularly, I believe that the technical evidence suggests a tremendous amount of upside could exist in this market, over the next few years. That's why I'm focusing on the weekly chart here.

So, as you can see, we're just trading around inside of this big bull flag , and interestingly, the bull flag is forming right near what appears to be the end of the huge V bottom formation. The sheer size and depth of the V bottom, is enough to produce a breakout well into the green zone that I have on the chart.

The green zone is likely to be a very significant area when gold             re-enters it. You can see that when gold             traded inside of the green zone in the past, the price movement was very rapid. This shows us that there isn't much support or resistance in there. So if/when the GLD             breaks out into that area, it could produce a powerful rally higher, which may cause the GLD             to surge into the 23.6% retrace, which intersects with the top of the green zone.

The technical indications show that the gold             market has formed a long term bottom, and a breakout into the green zone should turn the afterburners on. If we eventually see a breakout above the green zone, I think that we could get a retest of the all time high.

As a side note, a golden cross was formed, in January, on the weekly chart. SO you can see that there are a lot of bullish technicals that suggest further appreciation in the price of gold             .

From a fundamental perspective, there is a lot of pressure on the dollar, and that should continue as inflation is set to rise as we hinge on the brink of a full blown trade war. Furthermore, there is reason to believe that the stock market could be topping out, which would cause investors to flock to the safe haven.

I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir! ;)

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

-JD-
Phản hồi
giant gap waiting to be filled at bull flag target as well
Phản hồi
Ah yes! A lot of potential here. Insightful analysis as always, thanks for posting
Phản hồi
love you poopsie! good work !
Phản hồi
Excellent, excellent. I bought 14 shares yesterday in part based on your analysis. Thanks for the tips!!
+1 Phản hồi
is there a ticker that you like that is leveraged? my biggest portion gold stock now in my bag is KL.
Phản hồi
zr0s jcdollar
@jcdollar, NUGT
Phản hồi
Magic, where do you buy Gold Options from and whats their name?

Phản hồi
@NQ95, I trade options through TD Ameritrade. You can use their basic platform for it, but i like yo use Think Or Swim, which is their more advanced analysis software. In the GLD, Im playing it aggressively. I own the Jan 20 170 and 190 calls.
Phản hồi
MagicPoopCannon MagicPoopCannon
Phản hồi
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Quy tắc Áp dụng Người kiểm duyệt Giải pháp Website & Môi giới Widget Thư viện Biểu đồ Chứng khoán Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Ticket Hỗ trợ của tôi Liên hệ Hỗ trợ Các ý tưởng đã Xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất