$GLD

GLD is on watch for a potential breakdown; unconfirmed drop below parallel channel leaves support at $4,193 and resistance at $4,575.

He framed it in days
“Yield Surge Puts Markets Under Pressure Ahead of FOMC Decision”
Verified InvestingPublished Sep 15 · 1 passage
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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.

What this channel has said about $GLD

Verified Investing has 3 calls on this stock; only the adjacent ones are shown.

2026-09-15This one
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.
2026-09-11Bearish
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.
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KOL Says
KOL Says