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GLD Gaps Up, Meets Next Upside Target


Thursday September 6th, 2012
GLD Gaps Up, Meets Next Upside Target
by Mike Paulenoff www.MPTrader.com

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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