GLD has a bearish head-and-shoulders pattern; it remains valid only if the 4,300 neckline holds, triggering a breakdown on a daily close below it.
BearishHe framed it in weeks
“Yields Reverse Early Fall, 5% Nears With Fed Hike Locked, Oil Drops As Markets Rally”
Verified InvestingPublished Sep 11 · 1 passage
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All right, let's go into some gold action here. Gold today, early in the day when yields were down and the dollar was at its lows, gold was at its highs, traded as high as 4,400.
By the end of the day, it gave back half of that gain. In fact, more than half, just up about 6%. This is all I care about on gold. This trend line at 4,300, that has to hold next week.
You still have your head and shoulders pattern here, which is a very, very important bearish pattern formation. Only bearish if it triggers with a daily close below the neckline of 4,300. Watch that closely next week.
Watchpoints
daily close relative to the 4,300 neckline
What this channel has said about $GLD
Verified Investing has 4 calls on this stock; only the adjacent ones are shown.
2026-09-15
But as you can see here with gold putting in another somewhat flat day on the chart. Now, yesterday we had a drop and we did do a drop underneath the bottom range of this inclining parallel channel. Let me show you where that comes from. Dating all the way back here to April of 2025. Why this is very important and we're on a watch for a potential breakdown in gold. And we didn't get it today. We didn't get a further move down under yesterday's close under the parallel channel. Further giving insight as to what I anticipate could be a little bit of a relief in the 10-year yield tomorrow. But we didn't confirm a break here on the chart of gold. I could see a situation where we have one candle down and another couple candles just right back up without extending the confirmed close away from that key line that you see here displayed out on your chart. Currently at $4,312. Now, if the yields continue to push up, next near-term support on gold will be down here at $4,193. Next thing though for gold, get back into the parallel channel and then we'll start talking about near-term resistance as this one will be a more significant medium-term resistance level up at $4,575.
Quote at 07:35 ›2026-09-11BearishThis one
All right, let's go into some gold action here. Gold today, early in the day when yields were down and the dollar was at its lows, gold was at its highs, traded as high as 4,400. By the end of the day, it gave back half of that gain. In fact, more than half, just up about 6%. This is all I care about on gold. This trend line at 4,300, that has to hold next week. You still have your head and shoulders pattern here, which is a very, very important bearish pattern formation. Only bearish if it triggers with a daily close below the neckline of 4,300. Watch that closely next week.
2026-08-25
Next up into gold, guys. Gold has been um uh the inflow of capital has seen a ton of inflow of capital, mainly because of the currency debasement trade with percent, basically um artificially saving the yield curve. And in doing so, what that is what that what happens with that is that folks fear that they're going to have their fiat currencies, thus the US dollar, devalued with this sort of maneuvering to artificially maintain and and lower that yield curve. So, that's what's really kick-started some interest in gold last week, pushing gold up through these previous levels of resistance, which are now support isolated on your screen. And now we're starting to settle out right on top of $4,575.
Quote at 02:41 ›