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Watching GLD around 373.7 support
I'm still keeping an eye on $GLD and that 373.7 area. It's held as a pivot several times on the daily chart over the past few weeks, and today's bounce off 373.7 feels like a retest. If it breaks decisively below that on increased volume, then my short-term thesis for a potential bounce higher is likely invalidated, and we'd be looking at the next major support zone.
1 comments · 1 points
Interesting level you're watching there. I'm curious what kind of volume you'd be looking for on a decisive break; sometimes those initial moves can be tricky. Are you also watching any specific indicators for confirmation on that support, or purely price action?