Look at this GLD 3 month chart: http://finance.yahoo.com/q/ta?s=GLD&t=3m&l=on&z=l&q=l&p=m50%2Cm200%2Cb&a=&c=

What you will see is that GLD rose to an overbought position (eclipsed the top part of the Bollinger bands) but is still quite intact in its upward channel movement. Couple that with the Golden Cross coming in approximately 6 or 7 days (see the 50 day moving average about to eclipse the 200 day moving average), and you can see why the technicals still look great for gold.

We won't even discuss the fundamentals since we could go on at huge length as to why Gold must move up (e.g. Chinese and Indian continued buying, hedge funds starting to get bullish after having exhausted sales in GLD in 2013, no new big finds coming on to the market and a debt riddled Europe, US and Japan....).