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Is Gold Headed Higher?

Posted by StockBuz on January 29, 2015 at 10:09am in Commodities and Technicals

I believe gold will struggle here with GLD hitting it's falling 100week simple moving average. 

Whenever I see a "falling" moving average, it warns me that that is the average price of who is in the stock for the last (in this example) last 100 weeks.  In other words........sellers!

I can see that the 100week was support a few times in the past so this will be interesting to see if it is now acting as RESISTANCE.

Full disclosure:  I am now short GLD via puts

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Tags: gold, gld
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