Tuesday, June 11, 2013

Ugly Chart

I have a daily chart for GLD below over the past 3 months.  Does not look good.  A perfect cup and handle has formed.  A break below ~$130 signals the next downdraft, and measures out to somewhere around $117 (which means about $1,200 in the metal itself).  Basically, we are at the level where we find out what comes next.

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