Chart of the day: GLD

August 24, 2011

Big down day for gold. What does heikin-ashi show?

Yesterday’s typical reversal HA (doji-like) candle had haDelta below the short average SMA(3). Bearish sign already then.

Another matter of concern is the negative SMA(3) today (yellow).

Heikin-ashi chart of the day GLD 08/24/2011

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