Double bottom on the daily charts, option chain put to call ratio is 0.33, with GLD put to call at a more conservative but bullish 0.70. Target 1 at 28+ target to at 30+ stop loss at weekly low of 26.32. Gold breaking 1230+ will confirm bullish trend continuation, with a break below 1210 most likely stopping out the position.
Comment:
Closing half of the position. Gold has had a significant move above 1230 and running into resistance at 1246. Stop loss at entry for remainder