Ben Bernanke delay QE Tapering: Time to Buy Gold?

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Mr. Market does not believe Mr. Benanke and continue the down trend after rejected at the down trend resistance line. In addition, GLD broke the critical support of $130 and in the process of forming a Head and Shoulders pattern. Watch the neckline support (also the 61.8% Fibonacci Retracement) at about $124-$125. Breaking this support will send GLD to test the recent low of $115.

GLD Sept 21-2013

 

See Previous Analysis Gold Starts to Rally?

 

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How to Start Trading Stock Options To Create Dividend and Protect Your Current Position

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Nicolas Chahine is a former CFO for a successful web startup. He now manages his own fund, which is built around his credit-spread trading strategy. He is the mind behind the “[Mastering Credit Spreads]” online course and “[Create Income with Credit Spreads]” newsletter on Marketfy.com.

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