$GLD

GLD trend is upward in the near term after returning to parallel channel; first resistance at $4575.

BullishHe framed it in days
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Verified InvestingPublished Sep 17 · 4 passages
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Speaking of gold, look at this good rise today of 1.88%. For new viewers as well, we have been observing this parallel upward channel on the gold chart. We watched it when the price dropped, and remained for a period, approximately two months , below the bottom of the parallel channel.

Then we tried to get back in, and we were about to collapse, but I was explaining it step by step, saying: " Guys, we didn't get far enough away from that parallel channel, and we did n't close below the candle that broke that level at the beginning."

Therefore, the failure to achieve these targets made the trend line more likely to cause the price to bounce back above it, which is what actually happened today.

Therefore, this breakdown was effectively removed from the graph. The price of gold has returned to its parallel track. Therefore, the trend is upward in the near term with the first resistance zone at $4575 on the chart.

What this channel has said about $GLD

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2026-09-17BullishThis one
Speaking of gold, look at this good rise today of 1.88%.
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.
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KOL Says
KOL Says