I think VERY short term-intraday GLD will come down, I'd consider closing near term expiration calls, July calls may be fine.
Let me show you what I see right now and GLD is very F_O_M_C sensitive.
GLD 2 min is still in line, there is however a gap just below from today of course, so directionally we were right on.
This 15 min chart suggests GLD will see a fairly strong move ahead, this could be quite a bit ahead, like weeks, but there's still good chances for closer term moves to the upside.
As for Gold futures.
It's this 1 min that has me concerned immediately, perhaps a gap fill?
The 15 min chart is improving and positive.
As is the 30 min, I believe yesterday was Gold's near term bottom, we should see upside from here, but it will be choppy. If you want to try to play more of the trend, then I might suggest a 2x leveraged long ETF
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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