GLD monthly chart, 2004 - 2009The chart below shows the descending broadening wedge pattern as seen on the daily chart. On this pattern, Bulkowski says, "when price touches the top trendline and begins falling, sell or sell short". Also, the volume pattern for the past couple of days looks climactic. It will be interesting to observe whether GLD makes an upside breakout or begins falling from this point.
GLD daily chart, Jan. 2008 - Feb. 2009While on the subject, note the negative divergence of price with the indicators:
GLD daily chart
