Gold and Airlines: attractive ETFs for next weeks
Gold is very attractive again.
Due to its fundamentals, Gold is a great option for the next weeks, given that its inverse counterpart, the dollar, may continue to weaken due to two certain factors: the approval, increasingly close, of the US stimulus bill and the lower trend in inflation. Its risk is still there and gold can take advantage of that situation until the end of the year.Technically GLD, the gold ETF, presents a very attractive chart, the kind that every trader wants. In the 4-hour price, the price is located in a powerful key zone: on the one hand, a 2-month purple downtrend line with up to 4 touches. Also, its crucial SMA200 average, in light-blue hit on Thursday. And last but not least, its green Fibonacci retracement of 23.6% of its rise since March. Its black EMA50 confirms a bullish bias. Overcoming this zone will be decisive for next bullish behavior, with resistance at the psychological level 2000 of its future /GC. So, as usual, check price action before a trade de…
Due to its fundamentals, Gold is a great option for the next weeks, given that its inverse counterpart, the dollar, may continue to weaken due to two certain factors: the approval, increasingly close, of the US stimulus bill and the lower trend in inflation. Its risk is still there and gold can take advantage of that situation until the end of the year.Technically GLD, the gold ETF, presents a very attractive chart, the kind that every trader wants. In the 4-hour price, the price is located in a powerful key zone: on the one hand, a 2-month purple downtrend line with up to 4 touches. Also, its crucial SMA200 average, in light-blue hit on Thursday. And last but not least, its green Fibonacci retracement of 23.6% of its rise since March. Its black EMA50 confirms a bullish bias. Overcoming this zone will be decisive for next bullish behavior, with resistance at the psychological level 2000 of its future /GC. So, as usual, check price action before a trade de…
