Now I'm expecting GLD moving sideways. In my opinion this move sideways would be the best for the GLD bulls.
Depends everything on SPY - maybe the smart money is moving into GLD now before a correction in SPY.
GLD formed a nice "W"-pattern and broke the line of the downtrend which started at 2012-02-07.
GLD formed a higher high at 124. Since then it rallied decently.
Let's see if the breakout can hold above 130. Then I except another rally to 143 --> 150.
Just my personal opinion here - no buy or sell recommendation.
Depends everything on SPY - maybe the smart money is moving into GLD now before a correction in SPY.
GLD formed a nice "W"-pattern and broke the line of the downtrend which started at 2012-02-07.
GLD formed a higher high at 124. Since then it rallied decently.
Let's see if the breakout can hold above 130. Then I except another rally to 143 --> 150.
Just my personal opinion here - no buy or sell recommendation.