a) If GLD takes out $122.6 it could rally to $130
b) Below $119.5 could see a breakdown
c) none of this happens, trades sideways
Just saying, probably a decent place to hedge. By the way look at the spot gold move earlier today (second chart: XAU/USD). Thoughts?
$GLD (SPDR Gold Trust) - FreeStockCharts.com
Spot Gold (XAU/USD) - INO.com