GLD (gold) weekly - update

BATS:GLD   SPDR Gold Trust
Last week GLD found support at a key pivot level and so far this week we have a nice GREEN candle forming.The near term targets are the top of current red down channel and or the bottom of clone red channel. IF GLD can get back inside the green channel it is likely that GOLD will resume it's long term uptrend. For the time being I still consider GLD bearish since it's still in a short term down trend and below the 100MA.


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