GLD $105 was resistance for 12 days in October 2009. Daily 10ema ($111) is just above the 50ema ($108.62). BB $107-$119
Note: On 30min chart, SELL signal was initiated @ $115 on Friday 4th December and again today ( Thursday 17th December @ $111).
Upside limited with strong support @ $100 ($100.65 on Wednesday 28th October)
MACD Histogram made a Bullish reversal from the lows on Friday 11th December @ $108.72. which reversed today (17th december) with a fall to $107.57
Close above 10ema ($111) for 2 days or a break out move required to go Long
Recent high was $119.54 on Thursday 3rd December.
Last time we had a similar down turn was the 15 day fall from Tuesday 2nd June $96.97 to Tuesday 23rd June $89.95 and retest 12 days later on Thursday 8th July $88.82
Current Trade setup
Long $100 Stop $95 Target $130 Risk/Reward 6/1
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