{"id":30830,"date":"2012-07-13T14:02:23","date_gmt":"2012-07-13T18:02:23","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=30830"},"modified":"2012-07-13T14:02:23","modified_gmt":"2012-07-13T18:02:23","slug":"what-the-gld-etf-chart-tells-us-about-gold","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/07\/13\/what-the-gld-etf-chart-tells-us-about-gold\/","title":{"rendered":"What the GLD ETF Chart tells us about GOLD"},"content":{"rendered":"<p><strong>David A. Banister, Chief Strategist &#8211;<span style=\"text-decoration: underline;\"><a title=\"d\" href=\"http:\/\/www.thetechnicaltraders.com\/237-9.html\" target=\"_blank\">www.markettrendforecast.com<\/a><\/span> on GOLD July 12, 2012<\/strong><\/p>\n<p>Gold had remained in a rough 1550-1640 range for several weeks now. Tonight, we look at the GLD ETF, which represents the Gold spot price movements.\u00a0 Over the past 5 months we can see in the chart below\u00a0 the clear downtrend lines.<\/p>\n<p>Recently, in the past 6 weeks we have seen a series of 3 higher lows including today where a lower gap filled in and then Gold reversed upwards.<\/p>\n<p>What Gold needs to do, in terms of this GLD ETF is clear the 158 hurdle on a closing basis to set up a stage for a new advance. I would expect in the intervening months to October for Gold to continuing meandering and correcting to as low as 1445-1455, my longstanding Gold worst case low targets I\u2019ve had since last September.<\/p>\n<p>Near term key levels are 150 on the downside and 158 on the upside. If we close below 150 on GLD ETF then we should be looking for my 1445-1455 areas to be hit this summer before a low. If we clear 158 on the GLD ETF, then the triple bottom at 1520 is likely confirmed and we can start tracking some upside for Gold.<\/p>\n<p><a href=\"http:\/\/www.themarkettrendforecast.com\/forecasts\/wp-content\/uploads\/2012\/07\/712-gld-etf.jpg\"><img loading=\"lazy\" decoding=\"async\" title=\"712 gld etf\" src=\"http:\/\/www.themarkettrendforecast.com\/forecasts\/wp-content\/uploads\/2012\/07\/712-gld-etf.jpg\" alt=\"\" width=\"621\" height=\"481\" \/><\/a><\/p>\n<p><strong>David A. Banister, Chief Strategist &#8211;<a title=\"d\" href=\"http:\/\/www.thetechnicaltraders.com\/237-9.html\" target=\"_blank\">www.markettrendforecast.com<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>David A. Banister, Chief Strategist &#8211;www.markettrendforecast.com on GOLD July 12, 2012 Gold had remained in a rough 1550-1640 range for several weeks now. Tonight, we look at the GLD ETF, which represents the Gold spot price movements.\u00a0 Over the past 5 months we can see in the chart below\u00a0 the clear downtrend lines. Recently, in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2012\/07\/13\/what-the-gld-etf-chart-tells-us-about-gold\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;What the GLD ETF Chart tells us about GOLD&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-30830","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/30830","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=30830"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/30830\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=30830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=30830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=30830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}