GLD Weekend update

  • GLD Daily chart shows a contracting triangle pattern which is closer to a breakout.
  • Triangle breakout should takeout the weekly support or resistance levels which are 100 Week SMA and 20 Week SMA on closing basis for a bigger direction to happen.
  • Weekly Fib levels also shows price ranging between the crucial 38.2% and Golden ratio which must be resolved for a major change in direction to happen

No comments:

Post a Comment


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.