February 4, 2012

GLD Weekend update

  • GLD weekly chart showing a shooting star or an Inverted hammer pattern.
  • Price is still above the trend line as shown in daily chart. Breakdown below the trend line along with a MACD sell may give good downside for GLD.
  • If bearishness continues into next week possible retest of the broken resistance line and 200 Day SMA  looks possible.

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