Significant break GLD trend line

We have seen a significant break in the daily GLD trend line. this means a couple of things can happen. We can have a retest of the next support level of around 110.55. We could pop right back in the range and retest the top of the range of the 123.56 area. Or we can continue to go sideways and consolidate.
At Keystone we will not try to predict where we are heading. We will let the charts and the market tell us where we are heading. So keep your powder dry and be patient for the market to pick a direction.