Tag Archives: gold

Gold 3-Year weekly chart

Major trend for gold is down
Gold chart showing the major downtrend with resistance at 1200

Gold 3-Year Weekly Chart

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“Always trade in the direction of the major trend”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

Gold 3-Year weekly chart

Gold could not hold above 1200. Now major resistance. Again!
Gold weekly chart showing the break below the major support level of 1200

Gold 3-Year Weekly Chart

Major trend is down. Intermediate trend is down. Near-term trend is down. With inflation absent in major economies, it would take a significant geopolitical event to boost the price of gold.

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“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

Gold 3-Year weekly chart

Maybe a breakout for gold above resistance of 1200
Gold weekly chart showing a breakout at 1200

Gold 3-Year Weekly Chart

Reference the last chart analysis for gold.

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“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

Technical Analysis: Gold

A 2.25% pop for GOLD today but……….
Daily chart for gold showing the 2.25% pop today. Relative weakness in the U.S. dollar today and short covering are two possible reasons for the pop today. But the major trend is down and the intermediate trend is down.  Gold will meet heavy resistance at 1,200.


Gold Daily Chart

Daily chart for gold showing the 2.25% pop today. Relative weakness in the U.S. dollar today and short covering are two possible reasons for the pop. But the major trend is down and the intermediate trend is down. Gold will meet heavy resistance at 1,200.

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And the view from the weekly chart for gold
Weekly chart for gold showing the intermediate downtrend with support and resistance levels.

Gold 3-Year Weekly Chart

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Long uphill road ahead for the gold miners
Chart showing the pop in the gold miners.

GDX Weekly Chart

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Shorts covered today but will be back
DZZ PowerShares  double short for gold.

DZZ PowerShares DB Gold Double Short ETN Daily Chart

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“Keep it Simple!”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

Gold weekly chart

Gold is testing the major support zone
Gold is test the major support zone on the weekly chart

Gold 3-Year Weekly Chart

My last chart analysis for gold: Reference the last chart analysis for gold.

How low can gold go? View video

______________________________

“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2014 TradeOnline.ca

Major trend is sideways for gold

Gold spot price.  Major trend is sideways

Gold 3-Year Weekly Chart

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“Yes, the trend is your friend!”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

SPDR Gold Trust ETF (GLD) logarithmic chart analysis

A break below major support of 150
A break below major support of  150 on the weekly chart for the GLD ETF.

GLD ETF 5-Year Weekly Logarithmic Chart

GLD is officially in bear market territory (-20% from a high) as the $143.95 close is a drop of 22.5% from the September, 2011 high of $185.85. And then we have the break below major support of 150. The next support level is 140.

I don’t care about reasons for the price of goal. There are people who make a living writing about the multitude of reasons for the slide in gold. I just follow the chart until it indicates a bottom. Reasons are irrelevant.

Reference the last chart analysis for the SPDR Gold Trust ETF (GLD)

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2013 TradeOnline.ca

SPDR Gold Trust ETF (GLD) logarithmic chart analysis

Long-term uptrend and major lateral trading band
SPDR Gold Trust ETF (GLD) Monthly Logarithmic Chart showing the upward sloping trendline with support and resistance levels.

SPDR Gold Trust ETF (GLD) Monthly Logarithmic Chart 2005-2012


Historical price for gold in U.S. dollars for the period 1974-2012.

Gold Price in USD/oz Linear Scale 1974-2012


The above charts provide a long-term perspective for gold. The first chart shows the pricing for SPDR Gold ETF (ticker:GLD) for the period 2005 to 2012 in the logarithmic scale. The second smaller chart extends the date range from 1974 to 2012 and shows the actual price of gold in U.S. dollars in the linear scale.

There are two generally accepted principles in technical analysis: (1) individual stocks and broad indexes move in trends, and (2) the trend will continue until there is evidence to the contrary. How is this relevant for gold? The long-term trend for gold is up and is currently trading in a major and intermediate lateral trading band. And the near-term trend is down. Given the assumption that the long-term uptrend will continue for gold, a breakout above resistance of 174 and 185 (ticker:GLD) would confirm the continuation of the long-term uptrend. On the contrary, a break below support of 150 (ticker:GLD) would raise a red flag for the continuation of the uptrend.

Significant dates in modern gold history:

  • August, 1971: Then-U.S. President Richard Nixon takes the U.S. dollar off the gold standard, which had been in place with minor modifications since the Bretton Woods Agreement of 1944 fixed the conversion rate for one Troy ounce of gold at $35 (U.S.).
  • March, 1973: Most major countries adopt floating-exchange-rate system.
  • January, 1980: Gold hits record high of $850 an ounce.
  • August, 1999: Gold falls to a low of $251.70.
  • November, 2004: SPDR Gold Shares ETF launched
  • November, 2005: Spot gold breaches $500 for the first time since December 1987.
  • May, 2006: Gold prices peak at $730 an ounce.
  • November, 2007: Spot gold hits a 28-year high of $845.40 an ounce.
  • March, 2008: Benchmark gold contract trades over $1,000 for the first time in U.S. futures market.
  • September, 2008: Spot gold rises by nearly $90 an ounce, a record one-day gain.
  • September, 2010: Gold prices reach $1,300 an ounce.
  • September, 2011: Gold prices hit a high of $1,895 USD/oz

http://www.kinross.com/investor-centre/gold-history.aspx

Relevant articles picked from the Web:

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Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

© 2012 TradeOnline.ca