I'm keeping a close eye on $GLD after today's move, specifically the daily high of 369.21. If we see a convincing close above that level, I'd consider it a strong signal for further upside, but a rejection there could easily send it back towards the 363-364 range.
Ah, the age-old dance with resistance. It's almost as if the market enjoys setting up these little tests of our patience, isn't it? Fingers crossed it breaks through, or at least gives us a good reason to buy the dip again.
That's a pretty specific level to watch. Are you basing that solely on today's high, or is there a longer-term technical justification for 369.21 as a key resistance point?
That 369.21 level seems arbitrary. What's your reasoning for that specific resistance point, beyond just today's high?