Trend Reversal in Progress for Gold?

by Sam Collins | January 27, 2014 7:06 am

SPDR Gold Shares (GLD[1]) — This exchange-traded fund (ETF) has responded to the currency and global stock market’s weakness by rallying to its breakdown point and trendline — both significant resistance points. 

If it breaks above $124, it will almost certainly test its 200-day moving average at $127.70. MACD is positive. A trend reversal could be in progress.

GLD Chart
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