Overbought Readings Warn of GLD Pullback at $416.74

GLD (GLD) closed up 1.17% at $416.74 on December 27.

Technical indicators paint a bullish picture:

• Moving Averages: Price trades above the 9-day EMA ($405.86) with a bullish stack. The 21-day EMA at $396.71 provides support.
• Momentum: RSI at 88.4 is in overbought territory, suggesting potential near-term exhaustion. MACD is bullish (8.62 vs signal 6.61).
• Volatility: Price is extended above the upper Bollinger Band ($414.97), suggesting possible mean reversion.

While the trend remains bullish, elevated RSI warrants caution for new entries at current levels.

Key levels to watch: Support at $376.53, Resistance at $414.97.