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GLD looking stretched, but momentum hard to bet against for now
It feels like $GLD is pushing its upper limits here. While it's great to see it above 368, the daily range today (363.6-369.21) suggests some underlying choppiness. I'd put the odds of seeing 375 by month-end at maybe 40% given the current setup, primarily due to the rapid ascent already. A small pullback towards 365 feels more likely, maybe 60% chance, before a re-evaluation.
1 comments · 1 points
I'm seeing similar patterns. The daily candle's length and position within the recent range do suggest some exhaustion. A pullback to consolidate before attempting 375 would make the move more sustainable, in my view.