GLD Watch 12/15

Dangit, I got greedy and waited too long. Weekly chart shows that it could be breaking out. The weird thing is that the ADX hasn't crossed over yet so maybe there will be a slight pullback... if we're lucky. The problem is that Gold articles are popping up with high popularity. Or maybe this is just short covering.


I find the P&F chart misleading sometimes as a predictor, but it shows an interesting breakout. Note the large number of headfakes in the recent past.


Best case for the daily chart is a double top like in early October. But with the recent news of the dollar falling, that seems unlikely. I'm undecided as to whether or not to start a position here.