I leave the EW for others TO DO.
But I normally use EW as a language, to convey my thinking. Not this time.
On GLD weekly, my stochastics (different from yours) were at 180 as of Friday cash close.
Pretty extreme (anything over 125) although I saw 212 last spring a full month before the top.
Just the same, nosebleed territory.
Now if my charts did futes (they don’t), that move last night took weeklies well above the 3sd band.
Maybe someone can chart /GC (futes) with the 2 and 3sd bands. Over the 3sd band is an AUTO SELL.
Just like under the 3sd is an AUTO BUY …. See early Oct. Pity they happen so rarely.
They can fail, but oh so rarely.
At higher degree (monthly), I now have a fourth Sell Watch in four years.
No outright LT Sell yet, so probably one more attack on the highs yet to come.

Just by CHANCE (LOL), I just stumbled on the perfect chart to illustrate my point ….

h/t DisneyThai