The hearty bounce that took place in gold (via GLD) over the past week is, I think, complete. Take note of the horizontal, and in particular, the substantial amount of trading activity above that zone.

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The hearty bounce that took place in gold (via GLD) over the past week is, I think, complete. Take note of the horizontal, and in particular, the substantial amount of trading activity above that zone.
The last seven days have been a roller coaster for precious metals, but gold has been bouncing recently. However, I want you to pay close attention to the broken trendline.
It’s simply been one repulsion after another. I suspect a relief rally will be in store in the coming weeks, but it’ll just get thrown lower yet again.