Gold ETF (GLD) Breaks Out of Falling Wedge

click chart to enlarge

The daily closing price chart above shows that GLD has had the following potentially positive technical developments:

• The price has broken and closed above resistance posed by the falling wedge (or channel).
• There is a positive 15/35 day ema cross-over.
• RSI has broken above 50
• MACD shows a positive cross-over. 

Please remember that this is not investment advice. You alone are responsible for your investment decisions. See disclaimers below and elsewhere on this website.

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 junkbondrecycling.com in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher is long Gold at the time this article was written.

Base Chart Provided Courtesy of StockCharts.com.  Analysis and Annotation by JunkBond Recycling.com (all rights reserved)