For a short term swing trade, buying DGLD because it has closed below the lower red channel area with above average volume. Potential downside target is at 126.00 area. If things get really bad for Gold, it can head down to 123.00 area in the next several weeks. Stop loss will be a close above the red channel line.
Keep in mind, we are going against the trend because gold is still above the 100-MA.
Keep in mind, we are going against the trend because gold is still above the 100-MA.