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MPTrader Mid-Day Minute
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 Gold's Corrective Rally Continues
By Mike Paulenoff, www.MPTrader.com The rally off of the May 2 low at 83.06 in the streetTRACKS Gold Shares (NYSE: GLD) has recovered to 90.78 so far, and appears to have more in it that should propel prices towards 92.00/60 prior to completion. If that proves to be the case, then my work will argue that an "intervening" recovery rally ended, which separates two larger downlegs within an intermediate-term corrective process…which will point to another decline in the GLD that retests the May low at 83.06. For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary. |
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