Friday, July 17, 2015

Gold ETF (GLD) Breaks Weekly Support Line

A quick and simple update on GLD.  See my post from two days ago here.

GLD has now apparently broke below support on the weekly closing price chart below.  

Look for a counter-trend to test former support as resistance? 

RSI indicates GLD is not oversold yet on a weekly basis at least.

click chart to enlarge

Not Investment Advice | Important Disclaimer: 
The content in this article, including the identification and discussion of any specific security (e.g., bond fund), is NOT meant to be and should NOT be construed and/or used as investment advice. This article is for general information and educational purposes only. Please read the Disclaimers  for in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher has no position in Gold at the time this article was written.

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