The decline from 137.5 peak in August is best counted as a corrective Double Zig-Zag (abc-x-abc) with the last declining "c" leg yet to unfold. TheWe are now at the top of the declining channel. If the top rail acts as a resistance we should see an impulsive decline. Support come in around 120 from the longer-term bear flag.
Wednesday, October 9, 2013
GLD at top of declining channel
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Do you still see GLD part of correction or in big decline already? Please update as we can use it for learning.
Thx