SPDR Gold Shares (GLD): Testing Support before Going Higher

SPDR Gold Shares (GLD) is currently retracing back to find a Resistance Turned Support level at around $124-$125 (in red) before moving higher. This support zone also coincides with the uptrend channel  (in blue) support. If this support is broken, the next support at about $122 which the support of Ascending Trend line (in black) and also 50D SMA support. Technically GLD is still bullish and trading in an uptrend.

See previous post on Gold ETF (GLD) here.

GLD July23-3016