Wednesday, October 24, 2012

Gold/ UGL

As you know, the last several days I've been looking at gold, something seems to stick out on the bullish side, at least in the timeframes that I'm looking for our shakeout move, it was just difficult to find the short term signals in GLD so I found them first in the leveraged GLL (Ultrashort Gold) and now I've found them in UGL (Ultra Long Gold).

Here they are, UGL is still in a decent position, perhaps GLD is even worth a call position, see what you think. *I already addressed the longer term charts so we're only looking at short term.

 GLD 10 min leading positive

 UGL 3 min leading positive, but still not enough for a tactical entry.

 UGL 5 min leading positive recently, I like it, still not quite there.

 5 min intraday is more like it.

 2 min intraday is more like it

3 min intraday is more like it and now even futures short term are in line with these charts

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