Downward Pressure On GLD

GLD is in the grasp of a substantial correction after completing the upleg from the 10/02/23 low at 168.74 to the 10/30/24 ATH at 257.71. So far, the correction into this AM's pre-market low at 234.24 has amounted to a 9.1% decline from the ATH. 

My pattern work argues that in the absence of a powerful upside reversal that hurdles and sustains above key resistance from 241 to 245, GLD will remain vulnerable to downside continuation closer to my optimal 225-230 target window, where the correction will amount to around 12%-13%, where I will be expecting renewed buying that initiates a new upleg... Last is 237.22