rlim

Long term bear, Short term range between 104 and 105.7

Short
AMEX:GLD   SPDR Gold Trust
gld
Saw a strong bullish recovery on the 26th with a close above previous 2 days highs and close to 7/21 close. However failed to follow through on the next day.

We then see a couple of tight closes at 105 area with resistance at 105.70.

On 30th and 31st, we see the support and resistance being pierced but no follow though.

Entered a short position because of the weak close on Friday (31st) after fauked upthrust above 105.70
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.