This morning the popular SPDR Gold Shares(NYSE:GLD) are trading lower by 0.90 cents to $132.17 a share. The GLD looks to be taking a breather from its recent two week rally. The GLD will have some minor intra-day support around the $132.10 area. However, there will be more intra-day support around the $131.60 area for the GLD. This is a level where scalp traders can look for a small intra-day bounce.
Silver and gold mining stocks are also under pressure today. The ishares Silver Trust(NYSE:SLV) will have some short term intra-day support around the $29.00 area and more around the $28.60 level. Both areas could see quick short term bounces.
Nicholas Santiago
InTheMoneyStocks.com
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InTheMoneyStocks.com is a research and consulting company focused on guiding investors, swing traders and day traders to financial success. Their Chief Market Strategists analyze the markets while making calls on everything from stocks to commodities and currencies. Their goal is to not only guide their subscribers but also teach them their proprietary methods leading them to become investing and trading masters.
Nicholas Santiago
