I have this chart marked every which way to Sunday. Still believe that GLD and the precious metal space is due for some kind of rally. It is at an inflection point right now and a hold here would be a good sign. Could use some help from the market too. Everyday making new highs on the same trade story has become debilitating. In any event I do not believe we will see any trading below FIB .382. I follow Rick Ackerman who believes that $1448 on the December Gold contract would be a back up the truck scenario. We don't have to trade there which would be about another $20 or so. Lets see what happens. Last day of the week. Hang in there. Gold's day to shine again is coming.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.