User: TnRevolution: My Charts: GLD61916.jpg
GLD Daily Chart
Here is the channel I have been following on the GLD chart. We're nearing the bottom of the channel, as as well back to oversold levels on the daily chart. Could see a bottom anywhere between here and 117.50, when it reverses back up, will be a major buying opportunity, IMO, as even a move back up to the top of the channel could see a 10% rise in GLD, let alone a breakout higher out of this formation. We'll see. Need to see the buy reversal first.
I agree that gold is in a corrective phase and when done there is a great buying opportunity. Same for silver. 5/19/16
- By: TnRevolution
- On: 5/19/16 7:30AM
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