GLD just entered the January 30 gap down from $496....the first close inside this gap since then. Symmetric triangle tightening since early Feb with converging lines from $495 peak & $425 lows, RSI around 63 (room to run), and volume building on green days.Breakout above $470–$475 targeting $485–$500+ (measured move), pushing back to ATH territory. Gold's hedging tariffs, inflation fears, & macro noise.....central bank buys + AI capex uncertainty are spiking investor interest.
Watching the $470 resistance for confirmation. The Long bias here is a safe-haven play in choppy markets full of uncertainty.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.