December 21, 2012

GLD intraday update

  • GLD Weekly chart shows price near a possible support line.
  • Weekly chart also shows price trying to stay above 100 Week SMA.
  • Daily chart candles shadow suggest of a possible bounce. If price manages to clear the gap we could see a rally towards the resistance line shown in second chart. Possibility of a bigger fall exist if 158 levels does not hold.

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