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GLD Gaps Up, Meets Next Upside Target


The SPDR Gold Shares (GLD) has popped to my next optimal target zone of 165.10/40, which could present some near-term technical challenges for the near-term up-move.

Let's watch the action closely, because inability of the GLD to sustain today's gains, followed by a decline that breaks beneath yesterday's close at 164.31, will be evidence that the pattern "needs" a rest-correction prior to heading higher towards 170-172.

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