GLD is warming up in the lower magenta-colored zone between $152.85 and $159.20, where it still has some room left to finish wave iii in magenta. Afterwards, it should jump up into the upper magenta-colored zone between $163.39 and $171.23 to complete wave iv in magenta, before sliding into the yellow zone between $150.72 and $140.40, where the overarching downwards movement should end. There is a 40% chance, though, that GLD could decide to rise earlier already and thus could directly climb above the resistance at $171.23.
