GLD has remain range bound for a while, and good news is that momentum is building very nicely. GLD is heading towards resistance near its all time high of $119.54 where it will have to breakout to head towards $132-$148 range.
Past 3 years charts shows that it takes several tries for GLD to break out. So I expect the resistance to be non-trivial. I’d wait for breakout before opening new position in GLD. For holders of GLD, it might be prudent to put a moving stop order in case GLD doesn’t break out.
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