Market Timing Brief for the Gold ETF (GLD) Close On 1-31-2014: Metals Rally Falters

A Market Timing Report based on the 1-31-2014 Close published Sunday February 2nd, 2014

The resistance line I pointed out last Sunday in fact held gold (GLD) back. Gold failed to respond to rates falling further this past week, easing back on Thursday and Friday.  Support must hold, even if tested, at 119.11.  Until then, the rally is still intact.

Here’s the chart:

gld-gold-etf-market-timing-chart-2014-01-31-close-HP

Gold fails to rally on rates falling toward the end of the week.

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Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.

Copyright © 2014 By Wall Street Sun and Storm Report, LLC All rights reserved.

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