here’s a string of the weekly GLD charts going back for months.  although GLD finally hit my first target (the bottom of the channel) last week and has held onto that support level so far, i don’t see much of a reason to go long for the usually bounce that comes from a target being hit.  as of now, i favor that channel breaking down sooner than later (maybe after a small bounce, maybe not) and at least T2 being hit over time.