About a month ago when GLD
was at .4 I suggested we were likely going to have a correction to retest the recent low. That turned out to be true. It looks to me like we are in a declining wedge
at this time. It may continue down short term to hit the lower wedge trend line
but it could pop up from here. Personally I will be looking for a bullish
candle formation on the daily chart
before going long. Then add some when the longer term down trend line
is broken. If my longer vision of GLD
being in a very large triangle is correct we could have a choppy but sizable longer term up swing from here. Take care. Have a great weekend.