Thursday, June 29, 2017

GOLD: Primary Support Broken

Secondary Support at 1232

A weakening Dollar and falling markets didn't help as Gold broke through its Primary Support a second time today.  Although a bounce may take it above the Primary briefly, the short term downtrend has been confirmed.  GLD Secondary Support is now at about 117 (1232).

The general markets were hammered but recovered somewhat, and only the NASDAQ Composite and 100 broke short term Primary Support lines.  Their gap zones farther down will be filled, possibly at long term Primary Support – the question is:  When?

In a Curved Universe
the Straight Line is King!

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