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May 14, 2021

Trade Ideas for GU, GOLD, SPX500

Frank Cabibi

GU, Gold, SPX Recover From Setups
5/14/2021

GBP/USD Analysis 
GU on the 4H chart hits resistance and retraces, but support in the low 1.4000s lies right below it. News of US retail sales missed expectations which could be good news for the pound. Retail might be looking to enter around that big support zone marked in green.
Gold Analysis 
Gold comes all the way back up to recent highs on the 4H chart which also happens to be right below the 200 DMA if you pull up the 1D chart as well. This move is good for gold bulls as price retests resistance. A break could mean significant movement to the upside in the near future.
SPX500 Analysis 
SPX500 on the 4H chart breaks above its 200 SMA and approaches resistance at $4225 before it can test all time highs once again. Inflation fears that worried investors earlier this week are now shaking off those fears and getting back into the market.

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