Gold and GLD Resistance & Support Resistance & Support Levels for the price of gold and GLD. |
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December 4, 2019: Resistance and Support Levels for the price of gold and its ETF GLD.
The Daily point and figure (P&F) price target is undefined but it is currently in a 3-box reversal downtrend. It now shows 4 boxes down but no target. Often these target the last peak box which would be any of the peaks between $136 in 2013 and $130 in 2016. I don't currently own gold as the alternatives I have recommended in my newsletter for inflation protection and pure performance, such as REIT funds and US stocks, have done much better. This could change. |
Daily point and figure (P&F) pattern for a "Traditional, 3 box reversal chart: Quotes and Charts for Gold & GLD (the ETF for Gold) DOW to Gold Ratio |
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note 1. Source: stockcharts.com |
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