play4trade

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

AMEX:GLD   SPDR GOLD SHARES
1357 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!
play4trade
2 years ago
Remember, if you see a GIGANTIC bounce, it will do a better job of slowing down the downward momentum...
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