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Watching GLD's daily range after the pop
Been keeping an eye on $GLD today. After that solid move up to 369.21 earlier, it’s interesting to see it holding pretty firm around 368.41 right now. For me, the key thing to watch is whether it can consolidate above the 368 mark heading into the close. If it can, I'd consider that a relatively bullish sign for continuation, suggesting the momentum from this move has some legs. However, if we start to see it dip back below 367.5, especially on any significant volume, that would be my invalidated scenario. A close below that level would suggest this pop might just be a quick shakeout and could lead to a retest of the lower end of today's range, potentially even the 363-364 area it touched earlier.
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