Gareth Soloway
InTheMoneyStocks
Tuesday, September 3, 2019
Investing: Gold Analysis And Short Trade Level
Gold continues to surge higher, trading over $1,550/ounce. This bull run in gold is extended and I have isolated a technical resistance that warrants a strong short swing trade. Swing trades are generally 1-4 weeks long and look to capture a large move in the entity. The level on the GLD (Gold ETF) is $148.50. This is a major pivot point from 2011 and 2012. Look for price to pull back into the mid to low $130’s. I do want to make traders aware, I am a long-term bull on gold as well as crypto. It does not take a genius to see the end of fiat currency with the trillion-dollar-plus yearly spending of the government and the Federal Reserve printing trillions to get us out of every economic dip. While I trade short-term, I think long-term so I am prepared.
