Almost there! GLD should slam on the brakes and wrap up the blue wave (i). After completion, we expect the course to dip into the blue target zone between $162.26 and $155.58 to fulfill the corrective low of the blue wave (ii). Once achieved, the GLD is good to go and should rise back North.
I don't think it will go down. Look at USD dollar. I predict the gold will go up to around $2000. Be caution, USD is very manipulative by Federal Reserve or government or whatever. Federal Reserve loves printing money