Aug 17

Gold (GLD) Reaches New Reaction Lows

The two-week slide in the GLD from 66.42 continues into new reaction-low territory today at 61 -- and as of now my work still points lower, perhaps for a test of 60 in the upcoming hours. The relatively constructive big picture will remain positive unless the 7/24 low at 59.83 is violated.

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Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!