So far, GLD is playing out as expected after moving lower to tag the bottom of the 4-hour triangle pattern followed by a reversal (so far) though there is still a lot of work to be done to strengthen the bullish case, namely a break above the triangle pattern. However, a move below Thursday’s low of 122.45 would certainly dampen the near-term bullish outlook for GLD. Previous & updated 4-hour charts of GLD below:

SLV broke gapped above the 60 minute downtrend line today & is currently backtesting from above. My preferred scenario has prices moving higher but the 18.50 level remains key support, should this breakout fail. Previous & updated 60 minute charts of SLV below: