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June 3rd, 2019: GLD Chart Update

Posted by pugsma on June 3, 2019

GLD Daily Chart:

Gold Technical Analysis

GLD Weekly Chart:

Gold Technical Analysis

6 Responses to “June 3rd, 2019: GLD Chart Update”

  1. Thanks for this update, thanks for all the updates…..

  2. Is there a cup and handle on GDX…. beginning cup 4-18-16 ending cup 4-15-19, handle 5-1-19??????

  3. rat8nine said

    gld 60 and daily – on the 60, the red lines are where (5)=(1), (5)=1.23*(1), and (5)=1.38*(1),

    • rat8nine said

      Looking at the 60, it also occurs to me that the high today at 127.67 could only be (3), and that (4) is in progress, as it appears that there are 5 clear waves up from the second low at 119.83. The potential reversal setup of price at the upper blue line, and at 1.27 external retrace of 125.11 – 119.54 = 126.61, is kind of perfect, and with the negative cci divergence I have seen setups like this start down sharply, and then suddenly stop, consolidate, and then head higher. I used to take those trades, thinking that would never happen, and then later realized that I had been trading a reversal off of a wave 3, and then been caught up in a wave 4. So I just raise the question, as I would be surprised to see this explosive move up complete ahead of the fomc meeting next week. It makes me wonder about what setup in the charts will lead the “news” in this case.

  4. Gold went too $1398 then dropped to 1378.50=’s about 130.35 for GLD If the price holds

  5. rat8nine said

    gld 60 and daily…..great call Steve, following the wave count to a tee

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