GLD…Break Out Day
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Below is a short-term daily chart for GLD which shows it breaking out above the top rail of the blue expanding triangle today.
The longer-term 2-year daily chart shows GLD breaking out and backtesting the top rail of the triangle consolidation pattern. It looks like all the work is now finished with the breaking out and backtesting process.
Below is the 5-year weekly chart for perspective.
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Rambus Chartology is Primarily a Goldbug TA Site following the precious metals markets. Chartology is the Unique Blend of Technical Chart Pattern Identification and Market Psychology, Developed by Rambus During the Tech Mania of the late 1990s. His Early Training came the old fashioned way...Reading Edwards and McGee's Bible of Technical Analysis and spending years with a sharp pencil graph paper and ruler refining his skills and accuracy. Visit the Rambus Chartology website at http://rambus1.com/.
