- GLD Weekly chart with Stochastic shows Oversold readings.
- Daily chart shows the Death cross. But price has moved away too much from the key moving averages so price may do a reversal to the mean or a pause at the current levels.
- Last chart shows 3 Unfilled GAP's in chart. Oversold condition of GLD may lead to a reversal attracting price towards these unfilled gap's.
- SPX ANALYSIS AFTER CLOSING BELL
February 23, 2013
- Weekly chart shows its first bearish weekly candle after 7 consecutive green candles. The place of the red candle at a possible resistance line also look significant for bears cause.
- Daily candle coming back to close above 20 Day SMA or Middle BB should give some relief for bulls.
- Last chart the 30 Minutes time frame shows price near a crucial support resistance zone. Bulls may regain control above 1514 - 1515 level.
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