Traders should expect the GLD to trade into the $133.00 level on the . There is a lot of resistance around this area for the GLD as it was a failed breakout in August. The former buyers at that level will most likely be sellers again.
The GDX will have near term resistance around the $27.75 level. This level was also a failed breakout point from September 18, 2013. So traders should expect the GDX to stall out around this area. After these levels are reached it will be all about the patterns on the charts to see gold's next move.