PUG Stock Market Analysis, LLC

Elliott Wave Technical Analysis and Commentary on the Stock Market

January 24th, 2017: GLD Chart Update

Posted by pugsma on January 24, 2017

11:15 pm EST:   GLD price at 116.17 has reached the 38% retrace of the move down from 131.15 to 107.00.  Price has also reached the down channel resistance line on the 4-hr chart.  This should produce a GLD price drop that could be the major [B]-P2 wave (primary count) or the P3 wave (alternate blue count).

GLD 60-min chart:

pug-gld-60-min-1-24-17

GLD 4-hr chart:

pug-gld-4-hr-1-24-17

GLD weekly chart:

pug-gld-weekly-1-24-17

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