Gold Update

The weekly trend in GLD is up, the volatility on the weekly is low as well. I mentioned last week daily volatility on GLD was mildy high last week and a breather in the upside price action was likely, we got our breather a nice one day punch but atleast it was short lived. With my NYSE analysis bullish I see risk-on theme pervailing for the time being making me confident in GLD moving higher with the risk-on trade.

GLD has now worn off its mildly high volatility on the daily and now weekly and daily volatility are low and likely aligning for a nice move. GLD is in the range trade mode on the daily however the weekly is bullish so expecting GLD to resolve to the upside makes sense currently. No technical damage has been done to gld as the 20 ema and trendline breakout noted on chart are holding well.

I may increase GLD position at the close today. I will post if I do.