GOLD will be making a 4-10 day counter trend over next 15 calender trading days. We expect the retrace in GLD able to make a 1/4 or 3/8 retrace as a 1st target.
HL is a good way to play this counter move, as has been in a nice definded trading range. The pivot area is 5.22, R1 5.35, R2 5.59, R3 5.79.
Traders should try to play the pivot to R2 level, and R1 to R3 as the trade develops.
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