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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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