October 21, 2012

GLD Weekend update

  • Daily chart shows crucial support levels at 50 Day SMA and 166.23. For extending the down move these two levels must break on closing basis.
  • Weekly chart shows the broad range between 148 - 174. Price moving down from the top of the range. For a bigger fall the rising red colored support line must break which should also lead to a stochastic sell signal. Price not breaking below the red support line should give another up move.

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