UGL - GLD And UGL Finally Breakout And Are Headed Higher
2024-03-12 09:48:38 ET
Summary
- Both GLD and UGL have broken above their long-term resistance lines, with UGL up 21.1% and GLD up 13.3% since their recommendations.
- This resistance line breakout after three years is a significant, long-term event, as it is unlikely that prices will settle back and retest the breakout point.
- The "SK Long Term Gold Buyer Index", based on Commitment of Traders data, remains bullish for gold. It's confirmed by surveys of gold newsletter writers.
- These two reinforce the continuing strong buy signals for both GLD and UGL.
The Sentiment King has held strong buy signals on both GLD and UGL for over six months. UGL is the ProShare 2X version of GLD. In the last two weeks, both have broken above their long-term resistance lines. Since they were recommended, UGL is up 21.1% and GLD is up 13.3%....
GLD And UGL Finally Breakout And Are Headed Higher