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Monday, December 23, 2013

GLD 12/23

GLD finally retesting the summer low.  Here is the daily chart.

GLD is at the lower channel trend line and potential support from last summer.  Is there enough support here for a decent bounce?  It seems like there could be, but we need to see more upside first.  I would not make any prognostication about the long term here either.  This could make a long term bottom or GLD could bounce from support and still end up rolling over and going lower.  That is a tough call.  However, in the short term this is a possible decision point.


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