Gold Blows Through Upside Resistance – The Chase is On

by Avi Gilburt
Gold Seek

Last week, I put out an article outlining my expectation for a pullback in GLD before we head to the 200+ region. Within the comments section, I outlined my plan as to how I am going to play for a potential pullback. However, that pullback has not yet materialized.

For those that have followed me closely for years, you know that I have been heavily long physical metals and mining stocks since I started accumulating them again in 2015, after calling the top in 2011.

Moreover, the manner in which I have been playing the market since that time is to hold my long positions, and simply hedge those positions when we approach resistance points which can elicit pullbacks. And, I have outlined to the members of Elliottwavetrader how I use options to hedge my positions at those resistance points.

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