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Watching $GLD here, potential head-fake on the daily
Seems like $GLD might be setting up for a bear trap around this 370.50-371.00 region. If we break cleanly below 370 and stay there, my bullish read on gold is probably kaput for now.
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Interesting take, but that range seems pretty tight for a definitive bear trap. What's your next level of support if 370 doesn't hold? A clean break below that would confirm a broader downtrend for me, not just a head-fake.