GLD (gold ETF or /GC, gold futures), SLV (silver or /SI) and GDX (gold miners ETFs) appear poised to rally. Solid arrows on the 60-minute charts are my current preferred targets with the dotted arrow breaks showing the potential additional targets. If the metals & miners start to rally & approach the upper preferred targets, I will assess the charts at that time to determine the likelihood of the potential targets being hit. One could take a starter (partial) position here and (or) wait to add (initiate) on a solid breakout above that downtrend in GLD. 60-minute charts below.
Key points: A decent rally (to any of all of the price targets above) in the metals will most likely require a concurrent rally in the Euro ($EUR/USD) which means a falling $USD. If so, a rally in the Euro would most likely coincide with a rally in the stock market as with the precious metals, the Euro & the US stock market have been highlight correlated for a while now.