- Gold/GLD: Resistance and support levels for
the price of gold
| Gold Price Resistance
Resistance and support levels for the price of gold
More special charts for 2012 & 2011
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|February 28, 2012. This
graph shows the price of gold (more gold
charts and current
quote) from January 1, 2000 through February 27,
2012. The dashed green lines show major support
levels. The dashed red line shows the major
resistance level line that has been tested three times
in the past decade. I also show GLD, the
exchange traded fund for gold.
Check-out my August 25, 2011 Graph that some places didn't want to publish (probably because they have gold advertisers!) so I posted it on my own web site.
The second chart below shows Gold recently formed an inverted head and shoulder pattern.
Current quotes and charts for: Gold - GLD
I switched back to "Bullish on Gold" on 10/5/11. The inverted head and shoulder bottom pattern is now being "tested from above." You could use a stop just below the neckline on a buy here with a minimum target for the pattern that should break $2,000 per ounce. I have individual stocks in my explore portfolio that I believe will do batter so I have my money there, but gold bugs should be happy with this chart.
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|Note 1: chart courtesy of http://stockcharts.com|
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|Disclaimer: The information contained in this web site is not intended to constitute financial advice, and is not a recommendation or solicitation to buy, sell or hold any security. This blog is strictly informational and educational and is not to be construed as any kind of financial advice, investment advice or legal advice. Copyright © Kirk Lindstrom. Note: "CORE & Explore®" was coined by and is a registered trademark of Charles Schwab & Co., Inc.|