Monday, August 8, 2011

GLD Update

I'm expecting a possible spke move up, followed by somme intraday downside in GLD, whether it exhibits the same behaviour as late last week in which it gave up gains, I don't know.

 A bearish ascending wedge, I'd expect a head fake move up before a move lower intraday.

 3C 1 min

3C 5 min-both showing negative divergences.

SLV looks like an intraday sell-off is coming, but mid term, beyond intraday, it looks transitional.

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