Nearing weekly resistance and overbought RSI

2017年7月21日

Waiting on a position. Will be looking for a short entry after daily support is lost, but open to a long position if the weekly resistance line is tested again. Continued positive movement is hypothesized due to the option chain on GLD a Gold ETF which is call biased based on open interest and Bid price for 7/28 expiration. Will be looking at GDM and GDX to see if there is a turn in the current positive daily trend, to see if the tail will wag the dog. As the miners are testing a downward resistance line established since May, will be looking for GDM to move below its close today of 621.89 next week after an initial positive move with a reversal in GOLD to follow in below the weekly resistance line. Summary: positive in XAUUSD until GDM turns and the daily trend line support of XAUUSD from Jan is lost.

Call:
Bid Ask V OP 119.26
0.58 0.59 0.59 1307 1594 119.50
0.41 0.42 0.42 1859 14664120.00
0.28 0.29 0.29 526 1416 120.50
0.19 0.20 0.20 455 1083 121.00
0.14 0.15 0.15 227 635 121.50
0.10 0.11 0.11 280 764 122.00
0.09 0.10 0.10 124 760 122.50
0.07 0.08 0.08 45 1232 123.00
0.06 0.07 0.07 2 441 123.50
0.21 0.22 0.22 536 2510
1.92 2.01 1.97 4825 22589

Put Bid Ask V OP
115.00 0.02 0.03 0.03 17 1892
115.50 0.02 0.03 0.03 38 799
116.00 0.03 0.04 0.04 190 4261
116.50 0.05 0.06 0.06 820 2975
117.00 0.07 0.08 0.08 1182 3249
117.50 0.12 0.13 0.13 562 1651
118.00 0.20 0.21 0.21 1132 2203
118.50 0.33 0.34 0.34 1459 984
119.00 0.53 0.54 0.54 2629 491
119.26 0.15 0.16 0.16 892 2056
119.50 1.37 1.46 1.42 8029 18505