Caught support at 178 bouncing perfectly off the bottom trend line of the channel GLD is in. 178 is correlated with 1900 gold /USD so seeing a good bounce off that level should give us more upside in the near future.
@Euretyum, I closed my position this morning because i thought this would continue upward and didnt want to stay in a position that i didnt understand anymore. I am still very bullish on GLD but it just broke upward trend these last 2 days nad no sure where its going from here short term. I will wait to enter until I see buyers step in and start moving this upward again.