GLD Update

GLD had alittle false breakout this morning of the bottom rail of it’s triangle pattern. Another complete reversal within the triangle would take the price up to the 153 area. The triangle was completed on the open this morning when it hit the bottom rail at point 5. This triangle bears watching because we don’t want to have a 5 point reversal pattern with regards to our DGLD trade. The top rail at 153 is our key line in the sand.

a Breakout above this level would be Bullish for Gold

Stay Tuned