Denis: I don't see a break in symmetry in GLD (see 60 minute
chart below). Further symmetry is simply a guide and the price
action is GLD has been quite clear on the daily chart where the
bounces have been meager (not even close to breaking symmetry on
daily chart).
GLD - Chart Link - continues to trend
lower (bounces halted near declining 9 day EMA) and now lower lows
as per the norm.
GLD - Chart Link - stair stepping lower
(series of bear flags) with NO break in symmetry
My mistake I should have specified since the December 2015 low.
From that level GLD has broken upside symmetry but not
silver. So I'm thinking longer term and not short term.
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GLD Views
Posted by steve on 11th of Dec 2016 at 09:52 am
Denis: I don't see a break in symmetry in GLD (see 60 minute chart below). Further symmetry is simply a guide and the price action is GLD has been quite clear on the daily chart where the bounces have been meager (not even close to breaking symmetry on daily chart).
GLD - Chart Link - continues to trend lower (bounces halted near declining 9 day EMA) and now lower lows as per the norm.
GLD - Chart Link - stair stepping lower (series of bear flags) with NO break in symmetry
Respect the trend until evidence changes.
My mistake I should have
Posted by Denis on 11th of Dec 2016 at 01:06 pm
My mistake I should have specified since the December 2015 low. From that level GLD has broken upside symmetry but not silver. So I'm thinking longer term and not short term.