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The SPDR Gold Trust (GLD), the largest of the gold ETFs, also marked a key reversal.
FORBES: FOCUS: Gold Nearing Important Technical Chart Support Levels
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Thus, one cannot put a lot of stock in a key reversal suggesting a top is in place in this market.
FORBES: Comex Gold Lower on Follow-Through Pressure from Big Losses Tuesday
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In other words, one cannot put a lot of stock in a key reversal suggesting a top is in place in this market.
FORBES: Comex Gold Backs Off on Profit Taking After Hitting Another Record High of $1,917.90
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More follow-through selling pressure on Thursday worked to help confirm the significance of the bearish key reversal down on the daily bar chart.
FORBES: Comex Gold Sharply Lower Again; Chart Damage Inflicted to Begin to Suggest Near-Term Market Top
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Mark Leibovit, chief market strategist at VR Gold Trader.com, pointed out that a precious metal exchange-traded fund that he watches, ETFs Physical Swiss Gold shares (SGOL), put in a key reversal.
FORBES: FOCUS: Gold Nearing Important Technical Chart Support Levels
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While it should be noted that twice this month bearish key reversals down have occurred on the daily bar chart and prices went on to score new highs, the size of this key reversal is massive and makes it more powerful than the others.
FORBES: Comex Gold Plummets on Profit-Taking, Weak Long Liquidation; No Serious Chart Damage Inflicted
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In the context of where it occurred on the chart, this is a bullish key technical reversal in gold.
FORBES: Gold Stages Key Bullish Technical Reversal
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This is a complete reversal of the past, as women have surged well past the 50% mark in those hitting this key educational benchmark for success.
WSJ: Guys Left Behind