The only thing glittery about this GLD chart is how much it sucks. It was probably a "fun" day for anyone who was long Gold, which inspired me to mark "WHEEE!!" on the chart. It actually had a respectable bounce in the morning, but meandered lower into the close.
Is it oversold? Yes. Could it be more oversold? Yes. So what's the game plan?
GAMEPLAN:
Sell any strength. People are dumping this hard. I don't think it will find any supstantial support until it falls into the $75-$80 range.
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