GOLD STAGES KEY BULLISH TECHNICAL REVERSAL $GLD $SLV $SLW $ABX $NEM,
On Thursday gold staged a bullish ‘outside day.’ In traditional technical analysis, an outside day is traced when the low of the day is lower than the previous day’s low and the high of the day is higher than the previous day’s high. Candlestick or OHLC chart displays make it easy to see.
In the context of where it occurred on the chart, this is a bullish key technical reversal in gold. The chart shows the pattern on gold futures. Silver futures traced a similar pattern. Popular ETFs SPDR Gold Shares (GLD) and iShares Silver Trust (SLV) followed.
As illustrated on the chart, an early morning big decline was triggered by the release of housing and economic data. … Please click here or the title below to read more.