Gold broke below support, H&S pattern, precious metals look weak.
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Note: This can back test support before going lower.
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Apparently GLD is not tracking gold futures very well, must be some sort of decay from re-basing futures or something.
In any case, I was looking at gold futures (which I should have been doing before I bought puts), and it's hung up on the support level right now. If it breaks then I'm pretty sure we'll see GLD drop a buck.
In any case, I was looking at gold futures (which I should have been doing before I bought puts), and it's hung up on the support level right now. If it breaks then I'm pretty sure we'll see GLD drop a buck.
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Whether it bounces off of support or tanks it looks like it's gonna do it overnight. Gold futures trade 24 hours.
Gonna stay with the puts for one more day. Too close to the tank to give up now.
Gonna stay with the puts for one more day. Too close to the tank to give up now.