GLD 60 minute Aug 6th
GLD made a solid gap higher at the open today, breaking above the wedge and most likely kicking off the next leg higher in gold. Although my recent focus with GLD has been on the intraday charts (60 & 120 minute), that was merely to time my re-entry back into the trading positions in the metals & miners that I booked profits on in late June. Therefore, my focus will now turn back primarily to the daily charts, watching for a break of the July 10th reaction high as the next bullish event for GLD. SLV also made a nice gap up today but has quite a bit more work to do from a technical perspective as it still has yet to take out the top of the June 19th gap (defined as S1 on my previous 60 & 120 minute charts).