10/14/15

 

There are at least five up-thrusts on the chart of GLD at left.

 

Now, we have a potential sixth.

 

The gold futures market GCZ15 is already eroding away the highs of the last session.

 

Whether or not the overnight session (yet to open) continues the erosion remains to be seen.

 

However, with so many resistance areas as shown, the overall risk still appears to be to the downside.