October 17, 2019 01:43 PM RSS

From Our Weekly Chart Review: GLD Struggles

  • Wall Street Rebel | Geoff Garbacz
  • 06/14/2018 7:10 AM
From Our Weekly Chart Review: GLD Struggles
Each week in our chart review in Superstock Investor we look at nine charts of the various asset classes. Equities remain in good shape. Bonds are problematic as is the price of gold via the SPDR Gold Shares ETF (GLD).

[Chart]

These charts look at the slope of the 50 day moving average. The slope of GLD is below zero so it remains red. It appears a test of $120 is in the cards.

We use these charts to help us with our trading in Gold & Energy Options Trader. Currently, the struggle of GLD is preventing us from establishing a long position.

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