GLD – From One Decision To the Next

GLD is holding above key daily support at the 166.78 – 167.47 area.

The only problem is that for it to continue higher from here towards a key daily upside target of 175.85, It needs to clear resistance on the 30-minute chart at the 170.03 – 170.26 area. If cleared, the odds for a continued rally increase. A failure to do so, leave GLD vulnerable to more on the downside instead!

Look closely at the attached charts. Are you seeing the same resistance as I see? I will be watching the 30-inute chart closely.

Carolyn Boroden
www.fibonacciqueen.com
twitter:  @Fibonacciqueen