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Wednesday, November 27, 2013

Gold & GLD Resistance and Support Charts

Charts showing the important resistance and support levels for Gold and its exchange traded fund, GLD.  This morning I sent buy and sell levels for potential GLD trades to my subscribers.  If you would like to get this email, subscribe to my newsletter and I will send it to you.

Gold appears to be testing its 3-year low near the 61.8% Fibonacci retracement of the run from $681 to $1,923.70 per ounce.  
Click images to view full size
If the  61.8% Fibonacci support fails, then the next major support level for gold is the 2008 high of $1,033.90.
This graph shows gold prices for the last three years .  

This graph shows resistance and support levels for GLD, the exchange traded fund for Gold and my first choice as a low cost way to trade gold.
More charts and current quotes:
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A Gold Digger

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