GLD showed significant redemptions in in the ETF outflows, showing a shift in sentiment.
From the peak CCI of 241 on the daily chart, GLD reached 177, then a divergence commenced, with a peak to peak decline in CCI of 77%, despite a rise in price of 6.4%.
My two key support levels are based on anchored VWAP because they demonstrate the accumulate volume weighted average price from key dates. From the pre covid crash panic accumulation to today, VWAP is 163, and from the pre July 27th gap and rally, 181.66.
I am currently on the sidelines looking for consolidation to occur. We have a lower high of 189.40 from yesterday, and the ATH of 194.45. I am interested in taking a small long position at the anchored VWAP level of 181.66, and adding at 164
From the peak CCI of 241 on the daily chart, GLD reached 177, then a divergence commenced, with a peak to peak decline in CCI of 77%, despite a rise in price of 6.4%.
My two key support levels are based on anchored VWAP because they demonstrate the accumulate volume weighted average price from key dates. From the pre covid crash panic accumulation to today, VWAP is 163, and from the pre July 27th gap and rally, 181.66.
I am currently on the sidelines looking for consolidation to occur. We have a lower high of 189.40 from yesterday, and the ATH of 194.45. I am interested in taking a small long position at the anchored VWAP level of 181.66, and adding at 164