Any correction in gold should end above 125.53 level.
The chart below should be of some interest to speculators in gold:
(Click on image to enlarge)
Source: Stockcharts.com
Let me take GLD as an example. The chart above shows that since July 2017 (when the current move in gold prices started) the highest trading volume was attributed to the price range of 121.7 - 122.7.
In other words, this level should be considered as strong support for GLD prices. It means also that any correction in GLD should end above this level.
This article is not an investment advice. I am not a registered investment advisor. Under no circumstances should any content from here be used or interpreted as a recommendation for any investment or trading approach to the markets. Trading and investing can be hazardous to your wealth. Any investment decisions must in all cases be made by the reader or by his or her registered investment advisor. This is strictly for educational purposes only.
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