jamespwu

GLD strong move in the past few sessions, now at real resistance

AMEX:GLD   SPDR GOLD TRUST
39 0 0
GLD             , performed well in the past 4 to 5 sessions. Not only it did not fill the gap below 113. It made a quick move from after market to this morning's pre-market. It's a 2 plus dollar move. As of now pre-market its at top of the down channel , possibly surpassing it a little at 116.5. A breakout will be confirmed around 116 to 116.5. I may attempt a fade at this level. But it will go higher if people are trying to move of stocks and the Fed continues to keep the rates low. I also read something about China is buying a lots of gold             . TLT             is also extending quiet a bit.
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