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Gold Gann Angle Update

Gold Gann Angle Update

Gold Gann angles paint a nice picture. A pullback that so far has reacted to supporting 1x1 Blue Gann Angles.

In short, we have a strong price reaction to GLD $100. Short covering or new investment, only future price action will confirm this. We shall have to watch the pullback nature of gold during the next few weeks. If GLD can get over $135 then this should secure the beginning of the awakening of a new bull run to much higher prices. The 4 year gold pullback has been nothing more than an attraction to the supporting 1x1 Gann Angles. Knock on wood! Watching and waiting.

SPDR Gold Trust Shares Weekly Chart

Investing Quotes

"Keep the number of stocks you own to a controllable number. It is hard to herd cats, and it is hard to track many securities. Take your losses quickly and do not brood about them. Try to learn from them but mistakes are as inevitable as death." ~ Jesse Livermore

"The minute you get away from the fundamentals - whether it's proper technique, work ethic, or mental preparation - the bottom can fall out of your game." ~ Basketball Legend Michael Jordan.

"The main purpose of the stock market is to make fools of as many men as possible." ~ Bernard Baruch

"Because of the extreme challenge, one must commit full attention to it." Market speculation is "no different than trying to be a successful doctor or lawyer ... you simply must devote yourself full-time to the study of your craft." ~ Bernard Baruch

"The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell." ~ John Templeton

 

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