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Monday, 21 May 2018

SPDR Gold ETF (NYSE: GLD): 21 May 2018, Monday, 10.37pm Singapore Time

21 May 2018, Monday, 10.37pm Singapore Time
(Click on Technical Chart above to Expand)

Attached above is the technicals for the SPDR Gold ETF that is listed in the New York Stocks Exchange (NYSE: GLD). The SPDR Gold ETF is pegged almost 1 to 1 with respect to Gold prices. The Gold market has been on a re-accumulation mode. It has been on a hedging mode instead of speculative mode during the consolidation. The black circled regions show confirmations of uptrend. The gold market has been on a bullish ascending triangle of accumulation. The blue circled region is the projected backtest for confirmation of uptrend for gold. Gold remains in a long term uptrend despite mid term and short term corrections. This throws confusion to the markets. The trend remains an uptrend despite short term correction.

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