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Proshares Ultrashort Gold (GLL) Trading Report

Longer Term Trading Plans for GLL
  • Buy GLL slightly over 30.87 target 34.49 stop loss @ 30.78 Details
  • The technical summary data tells us to buy GLL near 30.87 with an upside target of 34.49. This data also tells us to set a stop loss @ 30.78 to protect against excessive loss in case the stock begins to move against the trade. 30.87 is the first level of support below 30.925 , and by rule, any test of support is a buy signal. In this case, support 30.87 would be being tested, so a buy signal would exist.

  • Short GLL slightly under 34.49, target 30.87, stop loss @ 34.59 Details
  • The technical summary data is suggesting a short of GLL as it gets near 34.49 with a downside target of 30.87. We should have a stop loss in place at 34.59though. 34.49 is the first level of resistance above 30.925, and by rule, any test of resistance is a short signal. In this case, if resistance 34.49 is being tested, so a short signal would exist.

Swing Trading Plans for GLL
  • Buy GLL slightly over 31.06, target 32.05, Stop Loss @ 30.97 Details
  • If 31.06 begins to break higher, the technical summary data tells us to buy GLL just slightly over 31.06, with an upside target of 32.05. The data also tells us to set a stop loss @ 30.97 in case the stock turns against the trade. 31.06 is the first level of resistance above 30.925, and by rule, any break above resistance is a buy signal. In this case, 31.06, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short GLL slightly near 31.06, target n/a, Stop Loss @ 31.15. Details
  • The technical summary data is suggesting a short of GLL if it tests 31.06 with a downside target of n/a. We should have a stop loss in place at 31.15 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 31.06, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for GLL
  • Buy GLL slightly over 31.23, target 32.18, Stop Loss @ 31.16 Details
  • If 31.23 begins to break higher, the technical summary data tells us to buy GLL just slightly over 31.23, with an upside target of 32.18. The data also tells us to set a stop loss @ 31.16 in case the stock turns against the trade. 31.23 is the first level of resistance above 30.925, and by rule, any break above resistance is a buy signal. In this case, 31.23, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short GLL slightly near 31.23, target n/a, Stop Loss @ 31.3. Details
  • The technical summary data is suggesting a short of GLL if it tests 31.23 with a downside target of n/a. We should have a stop loss in place at 31.3 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 31.23, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Real Time Updates are available on our Proshares Ultrashort Gold (GLL) Page here: GLL.

GLL Ratings for December 21:

Term →Near Mid Long
Rating Weak Weak Strong
P1 0 0 30.87
P2 31.23 31.06 34.49
P3 32.18 32.05 38.18
Triggers may have already come
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Support and Resistance Plot Chart for GLL

GLL Long Term Analysis for December 21 2022

Blue = Current Price
Red= Resistance
Green = Support

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Proshares Ultrashort Gold (NYSE: GLL) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for GLL change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if GLL is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for GLL too.  All of these are offered below the Summary Table.