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.
Note
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
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.