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Is $GLD About to Embark on a New Upleg?


I can make the case that the correction in the SPDR Gold Shares (GLD) from its 122.37 high (Mar 22) ended at the 115.55 low (April 1), and that since last Friday, GLD has turned up into a new upmove within the larger upleg off of the Dec lows near 100.

That said, however, a climb above 118.60 is required to confirm last Friday's upside pivot reversal, and the potential to propel GLD towards 125-126 next.

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