The GLD continues its powerful upmove to a recovery rally of 63.09. In so doing, the price structure has filled the remaining gap left behind during the Amaranth plunge ââ,¬â€œ beginning on September 7 with the gap down from the September 6 close at 62.85.

If the GLD holds its gains despite filling the gap, and closes above the gap, then we should expect upside continuation to my next measured target zone of 65-66.

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.