Friday, January 7, 2011

GLD Head & Shoulders Top YES

It looks like the Head and Shoulders is in play. We got confirmation on Thur. and it looks like a bear flag (Blue Lines) is forming as a couple more days of side ways movement could set us up to reach the 127.5 target. Only a return and break of the neck line would break down this pattern. I have no trades on this pattern and the GLD can be a high risk trade so dude diligence and discuss with your broker before making any trades.

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