I’ve been out this morning finding out that my dog, beloved as an important member of our family, has cancer. He was a shelter hound, born with terrible limbs and no chance in life until we put many thousands of dollars into his knee and hip surgeries. He’s now in his 11th year and well, time could be running out. The thing is, he still … Continue reading Uranium: The Opposite of a Meltdown
In a recent NFTRH report we noted that the Uranium ETF was making constructive moves at the SMA 200. Here is an updated chart.
For all you Uranium enthusiasts out there… Assuming that USD has gone bearish (let’s watch for a weekly close below the Sept. low) the commodity complex gets interesting. We have already looked at broad commodities and crude oil (DBC and USO) and now let’s take a look at an outlier, Uranium, using the Global X Uranium fund URA. This chart is so very clear. Lateral … Continue reading NFTRH+; Uranium Sector
A snapshot of the current technical status of several key markets (a lot of charts today because macro changes seem to be in effect)…
GLD broke down from the Sym-Tri (strike 1), lost the June low (strike 2) and now would try to find support at the December low, equiv. to gold 1180. Over sold, prone to bounce but technically bearish below 120 and 123.
A snapshot of current technicals for key markets…
GLD became very bearish with the breakdown from 124. A rise above 123 is needed to even begin to repair this chart.
A snapshot of the current technical status of key ETFs…
GLD filled gap, which now closes out the geopolitical hype and leaves gold on its own right at key support. Still not a constructive looking chart. A rise above the SMA 200 and then the 50 makes it constructive.
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.
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.