It looks like the GLD is forming either a triangle or a bull flag for this consolidation. I’m looking for the 4th reversal point to complete the formation, triangle bottom 77 and if a bull flag alittle farther down at 75. Time wise we are right on schedule as these patterns tend to mature out in roughly 4 to 6 weeks. We are only in week # 4 so another week or two should be expected to complete the consolidation pattern and send us on our way back up in wave iii of 3 of III.
All the best…Rambus
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