A potential bullish consolidation for GLTR

Question: GLTR - possible cup and handle or risk of double top - thank you.

The Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR) has rising 13-, 26-, and 40-day moving averages (DMA)s from 176.25 down to 172.52 and is trading within a potential bullish consolidation until proven otherwise.

This pattern may require additional time to fully form, but if Wednesday’s high at 183.45 serves as the breakout point, a decisive move above that level would open the door to upside beyond the mid-October peak at 189.18 toward 200.

It would take daily closes below the DMAs to weaken this setup and expose the early November/ late October lows at 168.10-167.52.

Chart 1: Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR)

A massive cup and handle breakout counts to 215 and 265 on the log scale chart

GLTR broke out from a massive bullish cup and handle formation dating back to late 2021 in late 2024/early 2025. This cup and handle reached its arithmetic target at 183 prior to the potential bullish consolidation pattern highlighted above. If GLTR fully forms and breaks higher from this developing pattern, the big base projects to 215 and 265 on the log scale chart.

Chart 2: Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR)

Last chart: Western Digital (WDC)

We have seen this pattern before. The bullish consolidation highlighted above on GLTR (Chart 1) resembles the October bullish consolidation on WDC (Chart 3 below).

Chart 3: Western Digital (WDC): Daily chart