Gold/GLD follow Up

From the May 30th post, May 15th and Gold-Something is Up

 Here's GLD's daily which as I pointed out in the May 30th post had found support, this morning it has broken out of what technical analysis would consider a perfectly formed descending triangle which has bearish implications, in fact these triangles are consolidation continuation patterns found after a decline, the expectation is for them to break to the downside and start a new leg down roughly equal to the preceding downtrend that led to the formation. Again, another example of how nearly 100 year old price patterns that are in just about every TA book fail (are manipulated) time and time again.

These are the actual charts for GLD from the May 30th post where the bearish pattern just didn't make sense with the 3C positive divergences at support.

 A very strong hourly that rarely form this fast and right at support (buying cheap). Comments from the post under this chart, " On an hourly chart, a leading positive divergence this sharp rarely develops this fast, note it was even stronger at support this morning."

 The 15 min chart confirms also showing the last touch of support saw a very strong positive divergence-comments from May 30th, " A 15 min chart since the 15th of May, again note the leading positive divergence around and at support."

 The 5 min chart at the same spot, comments: " Even intraday the positive divergence was huge on the touch of support."

And the intraday 2 min from May 30th.

Updated charts are loading.

Something was clearly strange on May 30th, especially the urgency of the most recent touch of support on that day as it saw by far the largest positive divergence.