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Gold/Mining/Energy : Great Basin Gold GBG.VSE (merger of Pacific Sentinel Gold)
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From: Savant2/21/2013 12:42:24 AM
   of 317
 
RT.. MARKET TALK: Gold ETF Heads Toward Key Support, 'Death Cross'

Last Update: 2/20/2013 11:13:29 AM

11:13 EST - The SPDR Gold ETF (GLD) appears to be in the midst of a bona fide
breakdown. GLD down 1.6% at a seven-month low of $152.85, and has lost 4.4% amid
a five-session losing streak. The next big downside target is $148-$148.50, which
stopped previous selloffs in late 2011 and mid 2012. Breaking that would target
$139.50-$140 at a minimum. That level includes previous strong resistance in late
2010, and the 38.2% retracement of the rally off the October 2008 low to the
September 2011 all-time high. Separately, at current trajectories, the 50-day
moving average should cross below the 200-day MA--a bearish "death cross"--within
three sessions.
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