JustCharts
Long

Short term rejected 128 resistance but setting up for bull break

AMEX:GLD   SPDR GOLD TRUST GOLD SHARES NPV
Very interesting 1 week chart pattern showing another rejection of strong 128.11 resistance but with longer term possible setup for a bullish breakout past all resistance. Appears to be heading down short term first for a higher low first. If it dips to 123 and regains its bull, we might see it break some long term resistance at 130.96 and the bull break and run might be very, very impressive. This would coincide with the short term bullishness of the market with longer term uncertainty of the markets and US dollar . Inverse relationships. Dip to $122.99 might be seen anytime from March to May but watch on any rebound from there. Don't want for that dip if the markets or US dollar breaks down before end of March 2018. Watch for confirmation past 130.96 to get on the bull run for more certainty. Currently neutral planning to go long.
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