play4trade

$GLD Parabolic Trend Broken!!!! MOMO is STILL DOWN!

AMEX:GLD   SPDR GOLD TRUST
1360 1 4
GLD             has seen a very nice down move last couple of months... Hitting NEAR very critical support now. Expecting wild bounces to slow the momentum down(to the downside). I will look to buy once I see momentum shift to the upside. Will buy at strong support area . Watch Momo... If they don't slow it down, and it continues it's downward path, they may take this to new lows... Watch closely!
Remember, if you see a GIGANTIC bounce, it will do a better job of slowing down the downward momentum...
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