Tuesday, October 6, 2009
GLD And The H&S
Is the neckline finally broken? WEEKLY indicators look like the breakout is for real. RSI looks strong. Target for the triangle goes first at 105. Then the possible big move to the H&S target of 126.
What's bad? The rising wedge might be experiencing a throw over. Ouch to the bulls if it is.
Tough call. I will not be messing with it, and if I do I'll have some serious stops in place just in case.
(Chart may be better viewed HERE)