SPDR Gold Trust Bearish Moving Average Crossover Alert (GLD)
SPDR Gold Trust (NYSE:GLD) crossed under its 10-day moving average of $121.72 on a volume of 2.6 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
SPDR Gold Trust share prices have moved between a 52-week high of $123.96 and a 52-week low of $100.23 and are now trading 21% above that low price at $120.86 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.
SmarTrend recommended that subscribers consider buying shares of SPDR Gold Trust on January 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $104.37. Since that recommendation, shares of SPDR Gold Trust have risen 18.0%. We continue to monitor GLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses spdr gold trust