IShares Gold Trust (IAU) : Buy @ $1689
Regarding technical indicators, the weekly RSI is reversing up from its rising trend line while key weekly moving averages are turning up increasing upward pressure. Moreover, the MACD is facing a strong support area which should spark a new up leg.
On a relative basis against the IVV S&P500, the iShares Gold Trust is pushing above its 50W moving average (first time since February 2012).
Buy @ $16.89 – Stop loss @ $16.15 – Target @ $18.50
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