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As the title says: precious metals: stocks and ETFs. Let us present charts and technical analysis for discussion. The daily charts that I am attaching have the following rules that you can read here:
This thread is for posting any chart for stock market indices, stock ETFs and individual stocks. Charts and technical analysis, news only as a secondary item to describe the price movement on a chart. I am opening this thread for myself, but everyone …
GLD: Today you have a large engulfing candle after a doji with a K cross on the daily stoch. And today's candle closing on it's highs. Go Figure.
My favorite gold stock: NEM, with both daily and weekly stochastics crossed down, both say sell.
Hi @Tiberius, I follow the futures chart instead of the GLD and went long gold last week on the break above 1700 at 17.25 so the position's in negative territory at the moment. But I think were are in a new uptrend.
The GC chart covers the whole days range unlike the GLD which is only the US session, so I think it's more useful as gold is traded 24/7. Today's bar was a hammer and closed lower than yesterday, but did have a good recovery at support and bounced to close above the short term moving averages. So is trading close to fair value at the moment. Here's my daily chart of the GC.
I use point and figure charts extensively in my trading, so here's the P&F chart as well which follows the spot price with price objective of 1860:
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
great chart @isatrader. Thank you for posting. I will continue to post charts and drill down on time frames to help analyze the status of Gold's trend. Please continue yourself.....................
@isatrader Now I remember, I was reading your journal. Good work with the stage analysis. If you could post a stage chart on the SPY in "The MARKETS" thread.
This thread is for posting any chart for stock market indices, stock ETFs and individual stocks. Charts and technical analysis, news only as a secondary item to describe the price movement on a chart. I am opening this thread for myself, but everyone …
And maybe an AAPL in the AAPL thread. It would be helpful.
Just another GC chart. The blue candles are very positive for the bulls.
Today's GLD chart: Doji today, but maybe that will continue to turn the daily stoch up with the weekly as the weekly enters the sweet spot between the OB/OS zones.