A snapshot of the current daily chart technical status of several ETFs…
GLD is bullish but in the equivalent resistance zone as noted for gold in NFTRH 296. MACD and RSI positive, with RSI close to over bought. Key support is at the MA 50 and 200.
Key ETF charts are a snapshot to current technicals, not comprehensive technical analysis.
GLD bumped above the lower end of resistance yesterday and is support for any continuing S/T rally activity. The big test is in the 123 to 125 area and the nose of the former Symmetrical Triangle.
ETF daily charts are a snapshot of current technicals, not a comprehensive technical review.
GLD has lost support after spilling out of the Symmetrical Triangle. Last week it was at the 62% Fib retrace and this week that is in the rear view window. Still bearish.
ETF updates are meant as a snapshot of the current technical situation, not a comprehensive technical review.
ETF updates are a snapshot of current daily technicals, not a comprehensive technical review.
Note: To keep unwanted clutter out of the in-boxes of those not interested in trade ideas NFTRH+ updates are no longer being emailed. They are posted at the site and accessible using the password for the current week. On Monday an NFTRH+ idea was presented for the NDX.
A reminder that below is a snapshot of current ETF status, not a comprehensive technical review.
A reminder that ETF charts are more a snapshot to current status than comprehensive TA. Also, to save time the MACD (which is usually noted as green (positive) or red (negative) will be colored blue in ETF updates going forward. The relevant point to the color coding is whether MACD is above or below zero. Also, RSI is added and the charts have a new format.
GLD broke down from an unimpressive short term uptrend (low relative ‘up’ volume), keeping the long anticipated support zone in play. That support zone is quite important. GLD is neutral-bearish, but with a potentially bullish pattern.
Key ETFs offer a technical snapshot each week, but are not comprehensive technical analysis.
GLD is right at the resistance we noted last week. The chart is neutral and would become positive with a rise above resistance (and the moving averages) and a MACD up trigger. Obviously, a failure here would put a bear signal on.
Reminder: ETF updates are presented as a snapshot to current status only. More in depth work is done in NFTRH.
GLD turned last week’s resistance to support, which is now being tested as Ukraine hype unwinds and FOMC looms. This is a still bullish chart working off an over bought condition.
GLD is in consolidation at resistance. It is bullish until proven otherwise. Support is anywhere from the visual lateral support at 122 to the gap and moving average convergence around 125.
GLD has reached the resistance that is the initial objective for the rally off the December bottom. On its bull signal but at a logical point of consolidation or reaction.
GLD is on a strong bull signal, but getting over bought as it heads toward the equivalent of gold 1340, our short term target. Over bought is seen in distance from EMA’s 10 and 20. A pullback would be normal.