BillyStaples

Gold - Interesting Weekly Setup

AMEX:GLD   SPDR GOLD TRUST
64 1 0
Interesting trend in the weekly gold             plot. Although gold             has been ugly for awhile now, the weekly chart appears to show a break of the downtrend, and the downtrend changing from resistance to support. It's not entirely support, and we'll know for sure in a couple of weeks. But I saw this from the trend I drew months ago. Could it be a break? Could it be a false break? Time will tell...
The trend is your friend, until the end. ;-)
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