$SPTGD Weekly

The S&P Global Gold Index Weekly chart is showing a clearly defined top with a decline in volume. Volatility is expected to be very elevated for a decline to the 34-week EMA, but may get as far as the 89-week EMA.

What might happen in this context is that a top may have formed, but as a bottom was indicated twice on the way down, we could see a top indicated through the inverse correlation with the gold/silver ratio another time and an extended overbought condition if this is only the beginning of the gold bull.

http://schrts.co/zwmFYa

-F6