![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHp8dLwXsMu9mnCgPawejxCJyAN_WxKQ8hs7jWr6GJJmUfHPlZfwyRNyRV8lfEpsMiK74MjdAY0fooqpgVJSJ7EB1lD7HKqopXsK79NhCctUVwJ1Uf10xRgCES7lLEmiuAY-5IBavUDuE/s400/sc.png)
The triangle formation is showing an interesting multi-month consolidation. The question now is... will which way will it break to.
If your a deflation hawk, then it will go down.
If your an inflation hawk, then it will go up.
Since I am neither, anD am a trader, the chart is telling me we will break down first before GLD moves up.
The reason... I believe the market will correct. W/a correcting market, GLD will mostlikely decline (along w/other commodities). But I do not see the mid/high 80s being broken downward on GLD. Especially since I do not expect a major market correction... just a consolidation.
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