Gold Triple Top?

Is GLD completing a triple top pattern or is it poised to breakout to new all-time highs? The charts say gold at 2,025 - 2050 per ounce is pushing the upper boundaries of its historical resistance price, so the probabilities are that GLD declines over the next few months. However, if GLD breaks out above 193 - 195 because of macroeconomic or geopolitical events, then it will make a new historical leg up. Here's a GLD 1 month chart, 13-year view, with the triple top pattern highlighted with an ellipse. I'm posting this as a short, but the timing for a short GLD trade may prove to take a long time or invalidated with a GLD breakout past 193 - 195.

Top 10 Countries with the Largest Gold Reserves (in tons)

United States — 8,133
Germany — 3,359
Italy — 2,452
France — 2,436
Russia — 2,299
China — 1,948
Switzerland — 1,040
Japan — 846
India — 754
Netherlands — 612

5/19 expiry option data:
Put Volume Total 6,876
Call Volume Total 7,575
Put/Call Volume Ratio 0.91
Put Open Interest Total 203,229
Call Open Interest Total 399,848
Put/Call Open Interest Ratio 0.51

6/16 expiry option data:
Put Volume Total 2,955
Call Volume Total 8,122
Put/Call Volume Ratio 0.36
Put Open Interest Total 264,056
Call Open Interest Total 703,900
Put/Call Open Interest Ratio 0.38

7/21 expiry option data:
Put Volume Total 641
Call Volume Total 1,368
Put/Call Volume Ratio 0.47
Put Open Interest Total 15,187
Call Open Interest Total 130,659
Put/Call Open Interest Ratio 0.12

Comment:

XAU/USD just hit a new all time high 2084 and GLD hit 195.60

Comment:

GLD technicals update today 5/4:
1 day (16hr ext) chart, 1YR view, with pi RSI, Triangular Trend Channel ATR, Fibonacci MAI & VolumeFlow indicators.

SMA200 = 168.28
SMA50 = 180.61
1YR high = 195.60
1YR low = 150.58

VWMA20 TTCATR levels:
breakout = 196.39
R3 = 193.93
R2 = 191.47
R1 = 189.01
pivot = 186.54
S1 = 184.08
S2 = 181.62
S3 = 179.16
breakdown = 176.70

Comment:

XAU/USD 1 day chart, 2022 - to date view, with (FibMAI) Fibonacci Moving Averages Input strategy. Set to SMA34 & SMA89, crossover / crossunder, long / short.