GLD - a long downward trend ahead
GLD seems to have reached the end of minor wave 2 up. Minor wave 3 should last many months and should take prices to levels much lower than 136. As shown by the Commitment of Traders graph, speculators continue to be at record net-long positions in gold futures and at this junctures they are usually wrong as shown in history. FOLLOW SKYLINEPRO TO RECEIVE UPDATES.
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As the predicted the bear market for GOLD it is now tracing minute wave 3 down, which should be a strong wave that should bring prices to new lows. See updated post.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.