GLD is the Streettrack gold that follows the commidity gold very closely. The charts for the gold futures and GLD are very similar so everything we do here can apply for the gold futures too.
Below is the Esignal chart. There is enought momentum to get the price to the 1.27 Fib value (69.77). Once that value is reached, we need to analyze the chart to see if the next Fib value at 1.414 is possible. Since the 5,35 Osc looks like it is at its peak, it will only get to 1.27 but we will see.
Set your alerts and let the charts then tell you what to do.
For EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose .
