September 18th, 2015: GLD Wave Count Update
Posted by pugsma on September 18, 2015
1:00 pm EST: GLD continues to struggle and remains in the down channels across all three time frames (4-hr, daily and weekly), so the blue count with the Cycle C (CC) wave headed directly to the 81-86 target area must be respected until the down channels are broken. The levels of 112.12 and 103.43 remain the key short-term areas to watch per the E-wave counts. A break above 112.12 could trigger the red count with a Cycle B (CB) bounce to 145 over the next year, after which there will still be Cycle C (CC) wave back down to the 86 area.
GLD 4-hr chart:
GLD daily chart:
GLD weekly chart:
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