GLD is now just shy of that decent resistance level (130.38 – 130.85ish) where a pullback or consolidation is likely. My own preference has been to book quite a bit of profits on both GLD & many of my mining stocks today with the intention of adding back exposure on either a pullback or once this resistance level has clearly been taken out, preferably after a pullback or consolidate to help alleviate the near-term overbought conditions. At times, overbought stocks can rip right through resistance like it’s not even there and just keep going but the odds for some type of reaction (consolidation or pullback) from this level are still significantly elevated IMO. Updated 4 hour chart shown.
For those receiving email notifications: Since the TRX update earlier today, the following gold & silver mining stocks were also updated without notifications sent via email- KGC, GFI, & SSRI.