Gold looks better on the daily again, at least in the GLD ETF.
Long GLD idea, stop at 378. It's been basing in a 377-385 range for seven sessions since the 9/28 drop, while spot gold tested its lows and closed back above them.
Targets are 389 first, then 397. From Tuesday's 382.27 close that's about +1.8% and +3.9%, against roughly 1.1% to the stop... I think the odds favour the upside while 378 holds.
$XAU
#Gold #GLD #XAUUSD #Commodities
Long GLD idea, stop at 378. It's been basing in a 377-385 range for seven sessions since the 9/28 drop, while spot gold tested its lows and closed back above them.
Targets are 389 first, then 397. From Tuesday's 382.27 close that's about +1.8% and +3.9%, against roughly 1.1% to the stop... I think the odds favour the upside while 378 holds.
$XAU
#Gold #GLD #XAUUSD #Commodities
