Early action GLD points to a rebound, target area 166.

The 30-minute charts shows a push below minor support (black line) that’s retracing.

Any time a market pushes below established support, it will attempt to ‘spring’ off that support level.

In this case we’ve already identified the 166 area as the target.

At this juncture, a GLD target of 166 would correspond to an April ’21 futures target around $1,765.

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