It's the time of truth for the streetTRACKS Gold Shares (GLD), with oil, coal and general commodity prices acting very strong now. Let’s notice that the GLD’s slide from late April from 68.73 appears to be contained just above the rising 200-day moving average at 63.28. Although as of yet, I have no confirmation of the establishment of a significant low, a sustained climb above 64.90 will trigger an initial such signal that should inaugurate a climb that retests the April high.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.