The Pivotal Perspective has been all over the gold move, and if you search in FAQ you will see many many posts about it starting from 1/27.

On 2/16 addressing the management of adds, I wrote:

"On the daily view, you can see the drop under YR1 thick red crosses 118.98, but let's look at levels that could act as support. FebR3 is at 114.53 which would also be a possible gap support. Even though FebR3 is a resistance level, it has convincingly cleared and the nearest medium term level that might be support.

Zooming into short term levels, GLD has been entirely above its weekly pivot since 1/20 to today - quite a run. One week holding the weekly S1 at 114 area would not be too bad. Let's see what happens."

The 2/16 low was 114.74 and up from there, especially today. As I type GLD is reclaiming its YR1 at 118.98, a potentially very bullish development. Why? Although the odds of YR1 > YR2 are not nearly as good as YP > YR1, still, the first step to thinking about YR2 is YR1 acting as support. That isn't the case today quite yet, but let's see if GLD can climb above the YR1 to start.