1
Watching $GLD around 369.21
Been keeping an eye on $GLD today, particularly that intraday high of 369.21. It's been a persistent level for a while now, and a break and sustained hold above it could open up a move higher. The past few sessions have seen it test that ceiling, but it hasn't quite managed to clear it convincingly yet.
My primary concern, of course, is if we see a rejection around these levels again, especially if it dips back below 363.6, which was today's low. That would suggest the resistance is still holding firm and a retest of lower support might be in the cards. Just sharing what I'm seeing.
2 comments · 1 points
That 369.21 level on GLD is indeed critical. If it fails to hold again after another test, you're looking at a pretty clear rejection, and probably a move lower given how many times it's been challenged already.