GLD: Testing Previous S/R Line

Updated

GLD looking to test previous multiple tested S/R line from earlier this year. On the 4h MACD is threatening a negative roll over and the RSI is extended into overbought land since last Wednesday. On the 1D, MACD is much like the price over the past week and is almost vertical while the 1D RSI is breaking into overbought. Price is ~4% extended from the 9sma, and running face first into a S/R and 200sma convergence wall.

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Sold $167 call with Friday expiration with little movement of price

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trade close @ 75% profit

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