SPDR Gold (GLD US$) after hitting the low of 114.65 on 30th May 2016 it had manged to stage a strong rebound to touch 125.28 on 24th June 2016. This is rather bullish.
We can witness a spike in the volume bar with 101m shares changing hand and hitting the high of 129.60 and settled down at 125.28 on last Friday. This momentum is likely to continue to drive the share price higher to re-conquer 125.35 the recent high with little effort and propel higher towards 128.75 soon.
Both Macd & Rsi are still trending higher which may provide further indication that the share price may continue to trend higher.
With Gold price spike last Friday we may likely see the Gold price trending higher. This may likely reflect on the price for SPDR Gold (GLD US).
Short term wise it may go up to re-visit 128.75 then 130.00 with extension to 133.41.
(trade base on your own decision)
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