This is a shorter term position in my view so I think it needs some leverage. SLV looks close, but I like GLD better. SLV is showing signs of an intraday pullback as well as Gold futures on an intraday 1 min chart, so I'd think GLD likely will as well.
Here are the charts for GLD.
GLD 2 min seeing some strong recent 3C momentum this afternoon.
The 5 min chart looking very strong for a short term move, I'd think you'd need options or at least a leveraged long ETF.
gold futures 1 min looking like a pullback.
I have a GLD weekly call, I would add to it if the 1 min chart were in better shape for now I'm going to sit tight.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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