The chart below, from 11/8, reflected that Gold was facing channel resistance, AGAIN! (see post here)
Channel resistance represented an opportunity to harvest if long GLD or attempt to short/score on defense at (1).
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Below is an update to the Gold (GLD) channel…
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A pretty clean rising channel remains in place for GLD. GLD looks to have been held back by resistance and broke rising support in the last 10 days.
For those that tooks short positions in GLD, its been an ok 10 day window. A few percent lower GLD will find rising support at hand.
Dear chris ,
Great work . SPDR ETF almost trading @ 162 , which is almost the key support according to the chart . Do u think the support would be taken of and if yes what would be the next level to accumulate it ?
Thank you and awaiting for your reply