Gold has declined almost $100 per ounce of late. Gold ETF (GLD) is now testing a couple of key support lines.
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Will take some time to see if the “Head & Shoulders” pattern happens to be a correct read in GLD. Even if it is, it would require a rally in gold to create a right shoulder. Right now, SUPPORT IS SUPPORT UNTIL BROKEN!
Game Plan…Buy GLD with a stop at $128. Am looking to own this with a tight stop!