Gold ETF, 10/1/2011

The Gold ETF remains just above the long term uptrend from late July.

Medium term it's been in a down trend from the beginning of December.

The past four days has seen Gold in a short-term sideways consolidation.

A break below the long term up trend line would be bearish.

A bounce here should see the Gold ETF target the early December high around the 141.00 area.

The Gold ETF is at a critical area.