$GLD starts consolidating 06-11-2014

The moderate rally in gold             prices and GLD             should not be interpreted as a rally per se but GLD             forming a small continuation pattern such as a flag or pennant . The stochastic is in the process or rallying up but lost likely will remain under the vale of 50 as this is more sideways consolidation than rallying. Once this consolidation is complete GLD             will make another leg down.
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