Technical Analysis Blog | PUG Stock Market Analysis, LLC

PUG Stock Market Analysis is here to help with SP500 technical analysis, stock analysis and more. Read our technical analysis blog to learn more.

January 1st, 2019: GLD Chart Update

Posted by pugsma on January 1, 2019

4:45 pm EST:   GLD recently broke above it’s 200-day SMA (118.68) and is potentially completing a 4-year long bullish Inverse Head and Shoulders (IHS) pattern: with head at 100.23, neckline at 129.52 and target of 158.81.  The 158.81 IHS target comes into play on a break above the neckline at 129.52.  This move up from 100.23 would be the completion of the Primary Y (PY), of Cycle B (CB) wave.

GLD daily chart:

Gold Technical Analysis

GLD weekly chart:

Gold Technical Analysis

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: