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.
Thursday, March 10, 2011
GLD Consolidation or is the Party Over
Well right now it looks like consolidation until the technical tell me different . I said last blog on GLD I thought it would come in and Test the 20 average but that came sooner then later coming about 6 cents from touching it. I am gonna stay neutral with the political tensions see if we break the 20 average before i get bearish on this asset. A hit on the 50 average would still be classified as consolidation. Only a break below the Feb lows would get me bearish.