jmboyer1
Long

GLD False Breakdown?

AMEX:GLD   SPDR GOLD TRUST
25 0 0
Chart shows GLD             in bearish descending triangle and seemingly breakdown through it. However, GLD             reversed instead of continuing down. Extreme negative sentiment (bulls v bears) on GLD             and oversold indicators ( RSI ) hint it may have shaken out all weak hands and started new trend up. TBD.
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