"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, May 29, 2012

GLD reversal paints a bearish candle

The big red candle looms over the little white candle that came before it.  It is engulfing it in its evil shadow.  It's a bearish signal (for the very short term only) if it holds until end of day.  These have shown up in silver and the gold miner indexes as well, indicating the possibility of a normal 'reaction' we have been expecting.













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