Both the short term Primary and Secondary uptrend support lines for GLD have been violated, insuring significant downside after a possible relief rally into Fat Thumb Monday, to about 117.50 (1238). In tandom, the Dollar has reversed and may soon fill the USD/EUR gap which is up at around parity (100) in the Index.
If Gold continues to hold above its current Secondary Support line, presently at about 1170, a long term E-Build will have formed that could lead to a breakout well into the 1400s. This will take time.
In a Curving Universe
the Straight Line is King!