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Gold prices inched up to their highest in more than a week on Monday amid heightened geological tensions.  The SPDR Gold Shares (GLD) rose 0.82 percent to 122.08.  The ETF has risen more than 11 percent YTD, trailing the S&P by about 2 percent.  Monday’s rally indicated a bullish turnaround, according to our “U.S. Market Trading Map”.  Below is an update look at a trade in the GLD.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red.  The yellow bars identify period of neutral or sideways trading pattern.  Additionally, the light-blue shading represents the short-term trading range.  A move above or below that range is considered overbought (as represents by the red shading) or oversold (as represents by the dark-green shading).  Readings above or below the red and green shaded areas are considered extremely overbought or extremely oversold.

Chart 1.1 – SPDR Gold Shares (daily)

Our “U.S. Market Trading Map” painted GLD bars in green (buy).  After a strong run of outperformance in early July, GLD formed an important high in early September and trended steadily lower. The correction found support near the 200-day moving average.  Monday’s massive rally signified…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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