$GLD consolidation just starting 06-09-2014

GLD has begun on a sideways pattern that will ultimately setup its next leg down. The stochastic is beginning to show signs of wanting to curl up but with consolidation price will not rally sharply but instead burn energy moving sideways. I don't think price will exceed $121 during this period. Once the stochastic resets a selling opportunity should present itself. This consolidation could take up to 3 weeks.


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