Disclaimer: Steelman's Technical Charts are my own amateur interpretations of technical charts and for informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Steelman's Technical Charts assume no responsibility for your trading and investment results.
Tuesday, February 22, 2011
GLD Why the Bull Flag Won
OK here is my written part why the Bull flag won. If you look I drew up 2 bear flags in blue and 2 bull flags in green. The 1st bull and bear flags have the flag part of the pattern more horizontal then the 2nd flags with the flag more of a angle. The flatter the flag the high percentage that the flag will win.So here you had two flags with the bull having a flatter flag and ended up winning over the bear flag running to today's close of 136.26. I think we have a very good chance of hitting the 139 mark with all the up rest in the middle east
Now here is my video for those who prefer it then the written