GLD Symmetrical Triangle

GLD Symmetrical Triangle Pattern began forming after bottoming in December 2015. Volume has decreased since it began consolidating in June 2017.
A breakout above the downsloping line with the support of other techincal indicators could see this ETF make a run to $135.
A failure to breakout would see a retracement to recent support just under $115.

Comment:

GLD has breached the down sloping line of the Symmetrical Triangle. However, short term indicators are overbought suggesting we may see a pullback near-term.

Symmetrical Triangles are tricky to trade. Why? Because the pattern will sometimes breach the down sloping line of the triangle and soon thereafter reverse direction and find itself back in the Thus, money/risk management is vital.