Charting, page-1824

Hi All



WEEKLY CHART for GLN

GLN has reached an interesting juncture, popular wave 4 down reversals are the 38 fib level, they can go as low as 50/61 fib too, but not in the main, so its interesting that it looks like accumulation is taking place at 130 ish, which just so happens to be where the 38 fib lies........

That said, i dont like the fact that the RSI 14 indicator has dropped below 50.

Cant see the 50/61 fibs being hit cause that wouldnt align ( make sense with FA & MC ) ..........but markets are not always rational.....




DOW looking fragile, very little support underneath from where SP currently lies ( yellow arrow ) until 31267...


Global X still drifting and hasnt found a bottom in which to base....yet

Uncertain times, accented towards bearish..........seems to be the theme still on the MACRO side.

Lets hope the wave 4 down theory holds weight for GLN in the mean time.

imo