The SPDR Gold Shares (GLD) has shown remarkable strength in 2024, soaring 40% between January and October.
For those who missed the rally, November offers a potential opportunity as GLD has pulled back 8% from its all-time highs, creating a dip-buying scenario.
DMI (Directional Movement Index): The DMI is composed of three lines: DI+ (green line), DI- (red line), and ADX (blue line).
When the DI- (red line) is above the DI+ (green line), it indicates a downtrend.
Note that both DI- and DI+ are changing direction, which provides the first indication of a possible trend change.
Persons:
GLD, Nishant Pant
Organizations:
RSI, CNBC, NBC UNIVERSAL
Locations:
GLD