nikoschopen, Looking at that GLD chart I don't see where you are coming from with that resistance trendline.
Shorter term Daily chart is bullish with a bullish break out of a Pennant pattern today followed up by a mildly bearish consolidation pattern on the Hourly and 5 minute charts.
I say mild because although pattern support was violated in those two time frames, the stock stabilized closing every hour above $91.50.
nikoschopen, Looking at that GLD chart I don't see where you are coming from with that resistance trendline.
Shorter term Daily chart is bullish with a bullish break out of a Pennant pattern today followed up by a mildly bearish consolidation pattern on the Hourly and 5 minute charts.
I say mild because although pattern support was violated in those two time frames, the stock stabilized closing every hour above $91.50.
That's right, you won't see me dilly-dally when it comes to cutting my losses. No reason to stick around for days, if not weeks, hoping to recoup ure losses.
As for tomorrow, the daily chart looks moderately bullish but I find what was stated in the Fed minute somewhat worrisome. Essentially it confirmed that the economy faces a double jeopardy of both inflation and recession, better known as stagflation, and for those who took ECON 101 would know that stagflation is a death knell for the economy.
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