Gold ETF (GLD) reaches the top band of its intermediate-term uptrend channel.
Due to inflation pressure, the GOLD price has a hedging behavior. The current higher price is not a value move, it is speculation move.
But as long as the uptrend remains intact, there is no point trying to bet against it.
The price may pull back to 145-143 area for testing or lower to 140 area for a shake-out move.
The135 level will become a major stop loss for buying side above 138.50 area.
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