Shares & Derivatives
SPDR Gold (GLD): Break DescendingTriangle Support!
By Marubozu  •  June 23, 2013
Expect another round of selling of GLD after this Gold ETF broke the $130 support. Price target for this Descending Triangle breakdown is minimum $117. With the help of Fibonacci Fan, GLD may reach this target by Aug 14, 2013.

GLD June22-2013

Current trade setup to short GLD using Vertical Spread.
  • Strategy: Long Vertical Put Spread
  • STO GLD Aug13 120 Put
  • BTO GLD Aug13 125 Put
  • Breakeven @ Expiry date on Aug16, 2013 = $123.22
  • Maximum Profit = $323
  • Maximum Loss = $177
  • Reward / Risk = 1.82
  • Cut Loss = GLD goes above $130
Previous Analysis on SPDR GOLD ETF (GLD)....
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By Marubozu
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