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Oct 25th, 2013: GLD Wave Count Update

Posted by pugsma on October 25, 2013

12:40 pm EST:  GLD’s primary count continues to look constructive of a bullish break-out.  However the 137.55 level must be breached to eliminate the bearish alternate (red) count.

Primary count is that wave (1) of minor 1 of major [3]-P5  is completing here at 130.5 resistance and a small pull-back for wave (2) will hold above the 50% retrace of 126.1.  From the wave (2) low, wave (3) will target 140, where (3)=1.62(1) and minor 1 will target 146.

GLD 60-min chart (mid-day):

PUG GLD 60-min chart mid-day 10-25-13

GLD 4-hr chart (mid-day):

PUG GLD 4-hr chart mid-day 10-25-13

GLD weekly chart (mid-day):

PUG GLD weekly chart mid-day 10-25-13

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