Monday, June 26, 2017

Gold Support Test

Deep violation overnight!

GLD broke severely to the downside at 4:02 am, reaching a precipitous low of 117.58 (1240).  Although it held that low, the physical continued falling to 1237 and then bounced, as did GLD. 

Throughout the day it flirted with the dark side, but its Primary has held so far, and we await the morrow.

Deflation fears and disappointment that upside resistance has held so firmly, along with Italian banking activity, may have spurred a big trader; however, the Dollar Index rocketed as Gold tanked, but then collapsed to below the sell-off point and even to a five day low.  Very strange.

In a Curved Universe
the Straight Line is King!

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