7-27-12 GLD Chart Analysis

Weekly Chart

Daily Chart

GLD has a week of strong gains (3.5%). GLD touched 50-week EMA that has served as the resistance. The weekly chart has not confirmed the uptrend.

On daily chart, GLD finally broke above the descending resistance line, and is near 200-day EMA. The daily chart has signaled an uptrend.

We at GoldTrend.org use GLD as one vehicle to trade gold because GLD is liquid and closely follows the gold price trends. We perform technical analysis in various time horizons on GLD price charts to identify current gold trends and resistance & support levels.

The technical analysis is offered here for your educational and entertainment purposes only. Our analysis looks only at information contained within the charts. We make no guarantee that you will make money with trading any stocks, options or ETFs by following our analysis.

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