XLD 1.98% 1,623.6 s&p/asx 200 2 x daily leverage index

S&D, S&R, Trends, Fork's and Turnarounds, page-162

  1. 16,642 Posts.
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    Gold Daily looks intent on retesting the lows of the range (arrowed).......actually it might be a bit more serious than that.

    Earlier in the range when price rose up and eventually drew out supply, when price pulled back in response the supply did not really chase it down.   And eventually the selling pressure became quite low and price could again push higher quite easily.
    This time however, the rise in price has again drawn out supply, but this time the supply has chased it lower, well so far anyway.....
    It will be interesting to see if price continues down to that line (arrowed), and see if the supply eases up again when it gets there (I expect it will, but obviously I can't be 100% sure).

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