There’s Gold in Them Thar Hills! GLD on the rise

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Gold is back! Well, not just yet. It has started the initial sequence of a potential move higher. In the bull market, this metal takes a hit for the reason of the dollar getting stronger. Its value depreciated and has started to show signals of stability. The chart is showing that it is forming a lethal reversal signal. The inverse head and shoulder pattern is a very reliable chart pattern. It is starting to shape its final shoulder to make a push towards its neck line. This pattern shows that if it can make a close above 105, it will very likely make its way to 110. The most recent candle is a spinning top. This indecision candle can be viewed as a continuation signal of a current trend. The gold rush is in its infancy and the clear buy signal will be a close above 105.

1 year Chart Porn of Gold ETF GLD 1/5/16

Gold ETF GLD Chart Porn 1/5/16

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Dwayne Tucker is an individual investor who started trading in 2006. Like many other beginners, he lost a small fortune. From his experiences and diligent self-education, he created a simple method to earn a consistent return. Now he works to help other beginning investors avoid the same mistakes he made. He created the website with the help of Cambron, to simplify the the market and help anyone earn money.

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