themarketzone

Testing resistance, Above support - FOMC day

AMEX:GLD   SPDR GOLD TRUST GOLD SHARES NPV
GLD has reached a daily resistance zone that includes:
1) Downtrend line
2) Bottom of a broken channel

That supports a potential bearish move towards 115

But..
GLD is also above support right now:
1) 200 MA line
2) Structure

Trading scenarios displayed in the chart:
1) Bullish - Breakout above trend line
2) Bearish - Breakdown below 200 MA line

Comment: Chart update
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