A Yellow Flag in the Yellow Metal
We are looking at a relatively important hurdle in SPDR Gold Trust (GLD), so if you're trading this one, I have to throw up a yellow flag here. While bigger-picture pattern and the daily chart would still vote for continued higher prices, there are some time and price resistance parameters that need to be carefully watched.
In explaining why, let's look at a past example of resistance established through symmetry -- that is, similarity or equality when comparing swings in the same direction, be it on the price axis or the time axis. In a past setup, iShares Barclays 20+ Year Treasury Bond (TLT) had been in a buy mode, then had moved into a resistance decision that included a symmetry projection of the prior rally swing (a 100% projection, or measured move, of a prior swing)....398 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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