GLD bearish trade analysis Short

AMEX:GLD1D

SPDR Gold TrustArca

Description

⋅ Jul 17, 2015 9:42 PM

GLD breaking a strong support. Huge volume and bearish candles, gap and go style. NUGT is another way to play gold.

GLD reallifetrading

Comments

VelvetHammersTrading

⋅ Jul 17, 2015 10:08 PM

GLD appears to be in a longer term descending wedge which technically hasn't broken its lower trend line. Daily and weekly stochs look to turn up, I would be careful shorting here.

Reallifetrading

⋅ Jul 17, 2015 11:52 PM

We will see! :)