December 9, 2019 12:07 PM RSS

ETF Chart Of The Week: GLD

  • Wall Street Rebel | Geoff Garbacz
  • 04/07/2017 08:12 AM
ETF Chart Of The Week: GLD

This morning we thought we would look at a chart of gold and will use the ETF that replicates the price of gold GLD. The chart is in good shape.

GLD peaked last July above $130 and now is attempting to climb above $120. It should do that this morning thanks to the airstrike overnight. We note that GLD is now above its weekly Displaced Moving Average (DMA) Channel, the yellow channel.

Moreover, it has moved above its weekly Erlanger Volume Swing (EVS) level of 0. So there are more bids than offers. Last we note the weekly Erlanger Crossover Spread is about to turn positive.

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