Wednesday, June 19, 2013

As for GLD

I think VERY short term-intraday GLD will come down, I'd consider closing near term expiration calls, July calls may be fine.

Let me show you what I see right now and GLD is very F_O_M_C sensitive.

 GLD 2 min is still in line, there is however a gap just below from today of course, so directionally we were right on.

This 15 min chart suggests GLD will see a fairly strong move ahead, this could be quite a bit ahead, like weeks, but there's still good chances for closer term moves to the upside.

As for Gold futures.

It's this 1 min that has me concerned immediately, perhaps a gap fill?

The 15 min chart is improving and positive.

As is the 30 min, I believe yesterday was Gold's near term bottom, we should see upside from here, but it will be choppy. If you want to try to play more of the trend, then I might suggest a 2x leveraged long ETF

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