Fri September 8th 2006 Gold Must Hold Support by Mike Paulenoff, www.MPTrader.comTuesday's high in the GLD gave all the appearances of a thrust out of a 9-week sideways, bullish consolidation area -- on the way to a test of the July high at 66.42. However, since then the price structure has done nothing other than plunge -- for three consecutive sessions -- across the prior sideways range to test a critical support zone between 60.50 and 59.80. Read more below.
For more of Mike Paulenoff, sign up for a Free August Trial to his ETF Trading Diary.
For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary.
Login to our "Echo" Comment System by using your user name and password from any of our AdviceTrade services (AdviceTrade.com, TheTechTrader.com, MPTrader.com, MarketsPath.com, and SwingTradeOnline.com):