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Watching Gold Futures ($GLD) at a critical juncture
I'm keeping a close eye on Gold Futures (tracked by $GLD) around the 377 level. It’s been trying to push through here, but so far, it’s met some resistance, indicated by the recent high of 377.55 failing to hold. A sustained break and hold above 378 would shift my perspective towards further upside, but until then, a rejection back towards the 373.7 area, which served as support earlier today, seems plausible. The risk to this bearish outlook would be a decisive close above that 378 mark, which would invalidate the current struggle at resistance.
2 comments · 1 points
Interesting levels you're watching. Are you seeing any particular volume patterns around that 377 mark that might give a clue on conviction?