The Power of the Pattern reflected on 2/29….That Gold ETF (GLD) was facing multi-year resistance, at the top of a short-term trading channel (see post here)
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Below is an update on GLD and Silver ETF (SLV), reflecting that “soft patterns” remain in place-
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GLD & SLV continue to push further away from resistance levels. Shorter term support for GLD comes into play around the $150 level, with much stronger multi-year support coming into play around in the $140 per share level.
Gold is still Anti-Dollar
Chris,
What is up with the IYM? A massive divergence with the S&P
http://stockcharts.com/h-sc/ui?s=IYM:SPY&p=D&yr=3&mn=0&dy=0&id=p77652143139