Volume is rising on the move today in GLD, this early, it is already more then 2/3rds of yesterday's volume. I personally would be patient in considering a position and base any decision on where GLD is near the close.
Friday, February 3, 2012
GLD close to breaking
My last update on GLD this week pointed out a pattern that clearly was not a consolidation pattern, as well as GLD being in a broad resistance area defined by the large triangle (top?) apex.
The triangle's Apex as well as a small channel pointing in the wrong direction for a consolidation, even though volume has fallen off in a way that looks like a consolidation.
Intraday move thus far at the bottom of the trendline.
And the longer term cycle in GLD from accumulation to distribution.
Volume is rising on the move today in GLD, this early, it is already more then 2/3rds of yesterday's volume. I personally would be patient in considering a position and base any decision on where GLD is near the close.
Volume is rising on the move today in GLD, this early, it is already more then 2/3rds of yesterday's volume. I personally would be patient in considering a position and base any decision on where GLD is near the close.
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