7-6-12 GLD Chart Analysis

GLD has been traded below its 35-weekly EMA since March 16, 2012, and below 50-weekly EMA since May 11, 2012. GLD is still trending down and is approaching to the next support level at around $153. The second support for GLD is $148.50.

Based on weekly and daily charts, we do not buy and sell GOLD at this level.

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 daily and weekly technical analysis on GLD price charts to identify current gold trends and resistance & support levels.

Our technical analysis is performed for educational and entertainment purpose. We make no guarantee that you will make money with trading any stocks, options or ETFs by following our analysis.

Gold Trend encourages gold traders or investors to do their own market research to carefully consider the risks involved.

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