Looking at a double top on H1 and H4 At it's high point on the daily and weekly from around 25 Dec 15 and approaching the 200 SMA on the latter. I entered at 1300, see it going to possible 1200 ? Any opinions on this ?
After a multi-year slide, the $GLD ETF share price has risen ~20% this year. Given the currency chaos of late, I'm not sure I'd want to short gold. I don't expect $GLD to dramatically climb as in years past but given the current global economy I wouldn't be surprised to see a slow climb back to a 13 or 14 handle.
I agree longer term, After posting I actually re-evaluated for a quick trade and see a possible close of the short at 1280 for a possible re-entry long at around 1260 for the return bounce.
