Friday, October 18, 2013

2013/10/18 GLD Gold ETF - facing strong upside resistance by Fibonacci Cluster


GLD Gold ETF - although GLD has broken out of a decending wedge yesterday, it is facing strong overhead resistance by a dense Fibonacci Cluster. If the 127.6 - 130.3 cluster zone can be cleared, there is plenty of room to the upside, with the extension targets:

Extension target 127.2%: 141.92
Extension target 161.8%: 147.41




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