Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
Based on a pre-defined weighted trend formula for chart analysis, GLD scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
-10........Last Hour Close Below 5 hour Moving Average
+15........New 3 Day High on Wednesday
-20........Last Price Below 20 Day Moving Average
-25........New 3 Week Low, Week Ending January 23rd
+30........New 3 Month High in December
-55........Total Score
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