mkmunir3

Gold (GLD) can fall only by 2%. Strong bull trend- medium term.

AMEX:GLD   SPDR GOLD TRUST GOLD SHARES NPV
Gold ETF can be used to see the trend of Gold . The way jump from sub 140 level to significantly higher than 140 at 143 has taken place in early August, we have signs of the overall sentiment as strongly bullish . With RSI hovering around 60 in past 2 months, it is evident a strong uptrend is present. At the moment, we can see the strength declining and we can expect a fall to 141.5 and further to 141. If we breach 140 in coming week, we will have strong support at 135-137 zone.
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