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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

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