GLL is a leveraged short on gold so the signals and price action in GLL should be nearly the mirror opposite of GLD to give confirmation.
You may recall 2 days ago I closed out the UGL leveraged long in GLD, but I didn't feel the charts were there for a short position, to me they look much better now.
GLD with uptrend confirmation on the 1 min and a negative divergence, a large portion of which was on the open today in GLD.
2 min chart showing the original accumulation area for this run up and a leading negative divergence in GLD with a big move at this morning's open.
3 min chart-the same story, except here we can add migration of the divergence through the timeframes.
The 5 min showing the cycle from accumulation to distribution, both leading divergences (positive then negative).
Even the 30 min is now leading negative.
I'm not going to add another 5 charts of GLL, but here are a couple like the leading positive in the 5 min, opposite of GLD's leading negative.
Also a leading positive 15 min chart, this should be good for a decent swing, GLL seems like the perfect tool.
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