Roadmap......Gold is approaching strong overhead "Potential Resistance" into "Time". Breaking below the inflection point of 1142 increases the odds to attack deeper targets.
Bearish Trend could continue if we see positive NFP results for the USD, If the respected level is broken we could see a major crash in the price of Gold.
Since my last post about GLD, the trend line breakout prediction lead to a huge rally. The importance of the 114-116$ support zone has proved itself. Since than, I've traded a small harmonic pattern successfully and lately I've traded this Butterfly pattern (shown in the chart) on $XAUUSD. Not that it has reached first target level. $GLD could be heading...