https://www.tradingview.com/x/1WNvull0/
Yesterday,
GLD closed with a Bearish Engulfing pattern. However, rather than offering a sell-on-strength opportunity, it opened sharply lower today—a move generally favorable for risk assets.
🔍 Key Technical Levels:
First Horizontal Support: ~$294.40 (Stop)
Additional Support Zones:
🔹 $278.32
🔹 $272.58 (Stop)
Ultimate Support: ~$261.24 (Stop)
This level is unlikely to be tested unless we see a sharp reversal in macro trends like inflation, global trade dynamics, and productivity.
Yesterday,
GLD closed with a Bearish Engulfing pattern. However, rather than offering a sell-on-strength opportunity, it opened sharply lower today—a move generally favorable for risk assets.🔍 Key Technical Levels:
First Horizontal Support: ~$294.40 (Stop)
Additional Support Zones:
🔹 $278.32
🔹 $272.58 (Stop)
Ultimate Support: ~$261.24 (Stop)
This level is unlikely to be tested unless we see a sharp reversal in macro trends like inflation, global trade dynamics, and productivity.
Disclaimer
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.
Disclaimer
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.