GLD is on a bear signal just above critical support. A loss of support in the 120 to 121 area would target roughly 105, based simply on the pattern’s measurement.
GLD is on a daily bear signal below the MA 50′s and MACD going red. At a potential S/T support area.
Putting aside the pre-market drop in precious metals, we’ll review the charts as they stood at yesterday’s close.
GLD is neutral, with a bull signal to be determined by MACD going green and the price remaining at or above the 50 day MA’s.
GLD is MACD trigger up, on a trend line breakout and at the SMA 50. Balance of data points is a neutral signal. Bull signal would come with a couple closes above the SMA 50 and MACD rising to 0+.