Charting Key Commodity ETFs

Has gold put in a bottom? Is it time to sell silver? What about oil? Let's pull up the charts of ETFs related to these instruments to determine the best course of action.

Gold, represented here by the SPDR Gold Trust ETF (GLD), has bounced twice from the $114.50 area (red line), forming a bullish double-bottom pattern. I consider this a strong level; a weaker support level has formed in recent weeks at $123 (black dotted line). With two support levels and a bullish pattern in its favor, gold may seem to be a buy. However, the overall trend is lower, and the weekly moving average convergence-divergence indicator (MACD, bottom of chart) is about to give a sell signal (shaded yellow)....356 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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