$GLD starts consolidating 06-11-2014

The moderate rally in gold prices and GLD should not be interpreted as a rally per se but GLD forming a small continuation pattern such as a flag or pennant . The stochastic is in the process or rallying up but lost likely will remain under the vale of 50 as this is more sideways consolidation than rallying. Once this consolidation is complete GLD will make another leg down.


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