Now, $GLD is facing a weekly that includes the top of a trading channel, the 200 weeks MA line and structure zone.
The key element is the 200 weeks MA line and where will Gold's price close relative to it (weekly close).
For longer term position holders, Stop loss should be above 130$ - Despite the wide stop loss, you still get almost 2:1 for your risk.
Tomer, The MarketZone
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