GLD – 26 April 2013 — What now for Gold?

GLD - W - 26 Apr 2013

Here are 3 potential resistance areas to watch in the GLD ETF.  We tested the first just this past week closing the gap to the downside before backing off.  It will be interesting to see if the downside pressure resumes or if buyers continue to fill in and drive price higher.  The 2nd resistance level is around $149 (formerly known as support) and the 3rd level is up around the uptrend line at $156.