JumpingJack

GOLD Inverse head & shoulders formation

AMEX:GLD   SPDR GOLD TRUST
208 2 3
Looks like GLD             is rounding out it's 2nd shoulder to complete the inverse head & shoulder formation from the Dec/Jan low. Inverse shoulders are bullish patterns in the long run. Looking for a run to $135 then expecting possible resistance. All in my opinion.
I am watching until after next week to see if 120-118 is in the cards - I suspect we are testing a steep channel and will know if we break 130 IMO.
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Wouldn't mind seeing a bit more stabilized price near 123 before Gold takes off again.
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