Monday, July 3, 2017

Gold Slammed

A One-Two Punch!

Both the short term Primary and Secondary uptrend support lines for GLD have been violated, insuring significant downside after a possible relief rally into Fat Thumb Monday, to about 117.50 (1238).  In tandom, the Dollar has reversed and may soon fill the USD/EUR gap which is up at around parity (100) in the Index.

If Gold continues to hold above its current Secondary Support line, presently at about 1170, a long term E-Build will have formed that could lead to a breakout well into the 1400s.  This will take time.

In a Curving Universe
the Straight Line is King!

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