KirkLindstrom.com - Articles 2014 - Gold and GLD Resistance and Support Levels   ETF: GLD
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                Windsurfing at Palo Alto in SF Bay in May 2009  Gold and GLD Resistance & Support
 
Resistance & Support Levels for the price of gold and GLD.
Kirk                Windsurfing at Coyote Point November 2009
Kirk                Windsurfing at Coyote Point November 2009
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January 23, 2014:  Resistance and Support Levels for the price of gold and its ETF GLD.   Gold may have bottomed right at the dashed green support line I showed in an article last year.  There are three Key charts to watch:
  1. Gold and GLD prices from 2007 to Today:  Gold remains in a downtrend until the dashed red resistance line of this chart is broken to the upside.  We are right at this potential breakout today with Gold up $25.
  2. Gold and GLD prices from 2000 to Today:  This chart shows Gold tested a 2013 low right at the rising dashed green support line just below $1200.  This tested "double bottom" could signal a reversal.
  3. The PNF (Point and Figure) chart shows a "double top breakout on Tuesday, January 21, 2014 with a "preliminary bullish price objective: of $1410.
I don't own gold and warned of a possible top way back on August 25, 2011with this post showing Gold at the top of the channel at $1,856.  Currently, I'm watching the resistance line on Chart 1 for a possible change of trend to confirm the PNF trend change.
Chart 1
 Resistance & Support Levels for the price of gold and GLD 


Chart 2
Resistance & Support Levels for the price of gold and GLD


Daily point and figure (P&F) pattern for a "Traditional, 3 box reversal chart: 


Point and Figure chart for Gold Price
Quotes and Charts for Gold & GLD (the ETF for Gold)

DOW to Gold Ratio


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