View Full Version : GLD - Big Breakout over 130 today
Gold has broken several layers of resistance. I'm still bear for a long term sentiment, but bull in this short term bounce off the 1269 level and the weekly 50% fib. Foreign data keeping this in play for the bulls. If the dollar remains weak then I would expect gold to retest the 1424 levels. Any break of that level will change my sentiment on the longer term.
Gold has broken several layers of resistance. I'm still bear for a long term sentiment, but bull in this short term bounce off the 1269 level and the weekly 50% fib. Foreign data keeping this in play for the bulls. If the dollar remains weak then I would expect gold to retest the 1424 levels. Any break of that level will change my sentiment on the longer term.
Gold Futures traded up to a minor t/l on Friday and had a little pullback. I expect to see a continued pullback on Monday before testing the new area highs.
Any price area on the $GLD you like to take a long after the pullback ??
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