Regaining Confidence in GLD's Next Bull Move

After dropping into the +85 range of our trend analysis GLD had traders thinking "is it time to take profits in GLD". But this mornings Smart Scan Chart Analysis confirms that a strong uptrend is in place and that the market remains positive longer term. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.Based on a pre-defined weighted trend formula for chart analysis, GLD scored +100 on a scale from -100 (strong downtrend) to +100 (strong uptrend):                                      +10    Last Hour Close Above 5 Hour Moving Average                                      +15    New 3 Day High on Friday                                      +20    Last Price Above 20 Day Moving Average                                      +25    New 3 Week High, Week Ending August 27th                                      +30    New 3 Month High in August                                      +100       Total Score

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Here's a FREE Trend Analysis for Gold and GLD

What is the current trend for Gold and gold ETF GLD? Our Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term uptrend Uptrend with tight money management stops. Based on a pre-defined weighted trend formula for chart analysis, GLD scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):





-10.....Last Hour Close Below 5 hour Moving Average
-15.....New 3 Day Low on Tuesday
+20.....Last Price Above 20 Day Moving Average
+25.....New 3 Week High, Week Ending July 3rd
+30.....New 3 Month High in June
+75.....Total Score


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Smart Scan Chart Analysis of Gold ETF - GLD

Our Smart Scan Chart Analysis of GLD indicates a counter trend rally is underway with a sidelines, mode up signal It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.

Based on a pre-defined weighted trend formula for chart analysis, GLD scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

-10....Last Hour Close Below 5 hour Moving Average
+15....New 3 Day High on Tuesday
-20....Last Price Below 20 Day Moving Average
-25....New 3 Week Low, Week Ending January 30th
+30....New 3 Month High in December
-55....Total Score

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Smart Scan Chart Analysis of GLD

Where is gold headed? Where is the gold ETF GLD headed?

Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.

Based on a pre-defined weighted trend formula for chart analysis, GLD scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

-10........Last Hour Close Below 5 hour Moving Average
+15........New 3 Day High on Wednesday
-20........Last Price Below 20 Day Moving Average
-25........New 3 Week Low, Week Ending January 23rd
+30........New 3 Month High in December
-55........Total Score



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