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#GLD 1 Month #DescendingTriangle #Gold #ChartPattern

SPDR Gold Trust (AMEX:GLD)  
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AMEX:GLD   SPDR Gold Trust
Chart Patterns Triangle Commodities Chart patterns classicalcharting Descending Triangle
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chartpattern triangle commodities chartpatterns classicalcharting descendingtriangle
Descending triangle is bearish in nature. A confirmed breakout (daily close below chart pattern support) could start the next correction phase for gold and take it down to $170/$169 area. I would also be playing the failed chart pattern (close above triangle down sloping line) for a run back to bull market high.
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$GLD Entered Breakout Mode from its descending triangle
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