Thursday, July 8, 2010

GLD

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The is a classic bullish setup that, as long as you read my blog, you will see over and over again.  
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This is a 60 minute chart of GLD.  The TSI has already broken above its long downtrend.  The TSI is making higher lows yet price is making lower lows.  The TSI is nearing a ZERO crossover to the upside.
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Classic setup.  Textbook, in fact, but I haven't written the book yet :)
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This should resolve with gold heading up, not down.
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Click on the chart to ENLARGE


This is a 10 minute chart of GLD.  It sure looks like a bullish cup with handle to me.
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Click on the chart to ENLARGE


                    

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