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April 17th, 2019: GLD Chart Update

Posted by pugsma on April 17, 2019

11:50 pm EST:  The weakness in GLD since the 127.21 high is clearly a significant wave lower and thus has been re-labeled at major [B]-PY-CB.   The typical B wave 50% Fib is at 119.14 (red labels).  However, on the daily chart there is a clear head and shoulders top at 127.21, neckline at 121.02 and target of 114.85.   This would agree with a major [B] wave 62%/78% Fib retracement at 117.20/114.6 (blue labels).

GLD Daily Chart:

GLD Technical Analysis

GLD Weekly Chart:

GLD Technical Analysis

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