DailyPlay – SPDR Gold Trust ETF (GLD) – December 9th, 2021

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The bearish DailyPlay for Thursday, December 8th is the SPDR Gold Trust ETF (GLD). GLD has experienced a long-term bearish trend and a strong decline in recent weeks. Price has retraced higher over the last few days on very weak momentum indicating further downside. 

Both 1M and 6M trends are bearish and with a technical score of 4 (out of 10), GLD is a weak ETF that is expected to move lower from current levels. The next areas of support for GLD are $164 and $161. 

As this is a credit spread, look to take profits at 50% gain and cut losses at 100%:

• Take Profits: $0.87 Debit
• Stop Loss: $3.46 Debit