February 12, 2013

GLD Triangle pattern update

  • GLD Weekly chart sustaining below the Crucial support of 100 Week SMA is not good for GLD Bulls. Price must get back above this level to avoid a bigger fall.
  • second chart shows a triangle breakdown in daily chart. For GLD Bulls price need to close the gap and get back into the pattern in order to do a Busted triangle.
  • For GLD Bulls crucial resistance levels in daily chart will be the 200 SMA and 50 SMA.

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