The gold chart looks poised for a bounce. How to play it for less

If you've been watching the SPDR Gold Shares (GLD) , you know the yellow metal has been consolidating and appears to be bouncing off its 150-day moving average (support). If one prefers to use the 200-day moving average, that support level is just below $400, which is also approximately the 50% Fibonacci retracement level. Here's how to trade the technical setup: the June $395/$445/$480 call spread risk reversal. …