Below is a daily and weekly chart of GLD. Both are uptrending. The weekly chart suggests their fuel in the tank for a sustained move in GLD as volatility on a weekly basis is low, historically. However GLD on the daily has volatility slightly high on a historical basis suggesting GLD takes a breather before a sustained move higher. GLD has recently broke out of a small down trend, and a sideways trading mode. GLD retested the breakout above resistence today and held.
Given the nearby support on GLD, lack of any technical damage on GLD, volatility high on the daily and low on the weekly. I believe GLD will trade sideways this week holding around the breakout. However any nice move higher will be welcomed, I am just not getting my hopes up for a solid week for GLD but I am not worried either.
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