Wednesday, November 25, 2009

Gold (GLD) - At the top?

Gold looks like at the top in the price chart. Analysing the SPDR Gold Trust GS (GLD), it has gone above the channel it was forming since Jan-20-2009.



In the following 60 days chart, it has gone above the trend channel it was forming since Oct-28th-2009.





In the 60 days hourly chart, MACD was diverging. But in the in the first year to date chart, the MACD is not diverging. So potentially this may not be the top. But a short term bull back is what I am expecting.

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