Friday, February 4, 2011

Gld Whats Next

Well last week I thought we had a reversal candle and might go and test the 20 average on the daily. Well we hit it yesterday, didn't confirm the break today and the candle looks like a topping candle.  I still have that 127 area for a target and if things in Egypt calm down there is a good chance we test that area. Another thing I see is a possible beat flag ( marked in dotted blue lines) which could help us get there. I do not trade this stock but use it as a indicator of market direction.

 Again this is my interpretation of technical charting and anyone looking to trade should consult a investment consultant before making any trades.

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