On Wednesday, the SPDR Gold Shares ETF (GLD)'s 20-day EMA crossed above the 50-day EMA, generating a buy signal for the IT trend pattern. This means that GLD is bullish in the medium term. GLD was in a long-term bull market when the 50-day EMA crossed the 200-day EMA in January. Signal states are:
IT Trends Model: Buy after July 26, 2023
LT Trend Pattern: Buy After May 1, 2023
So far, GLD has refused to break below the 20-day and 50-day EMAs, and another buy signal could flip (probably tomorrow) unless the price rises above it soon. she.
XAUUSD BUY 1943 - 1940
✅ TP1: 1950
✅ TP2: 1955
✅ TP3: 1960
❌ SL: 1935
IT Trends Model: Buy after July 26, 2023
LT Trend Pattern: Buy After May 1, 2023
So far, GLD has refused to break below the 20-day and 50-day EMAs, and another buy signal could flip (probably tomorrow) unless the price rises above it soon. she.
XAUUSD BUY 1943 - 1940
✅ TP1: 1950
✅ TP2: 1955
✅ TP3: 1960
❌ SL: 1935
