Here's Where To Buy iShares Gold Trust

Published 07/08/2013, 10:42 AM
Updated 07/09/2023, 06:32 AM

From a technical view, the ETF is close to a key support area set around 11.30. This support is the 61.8% Fibonacci retracement of the entire bullish run started in November 2011. Regarding technical indicators, the weekly MACD is at an extreme level indicating the ETF is in an extreme oversold situation. Last time the weekly MACD was in such extreme situation was in September 2011, which was actually the top of the bullish move. Furthermore, the weekly RSI is way oversold, too, providing another argument for a recovery in coming weeks. On a relative basis against the IVV S&P 500, the iShares Gold Trust (IAU) is trying to shape a base for a rebound. Trading strategy: Buy at $11.99 -- Stop loss at $11.15 -- Target at $14.2.
iShares COMEX Gold Trust

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