Below are charts of Goldcorp Inc. (GG), streetTRACKS Gold Trust (NYSE:GLD, the Gold ETF) and the PHLX Gold & Silver Sector Index (XAU). Not surprisingly they look similar. XAU is a little bit stronger and has been able to climb above its 50-day moving average. GG and GLD actually look like decent shorts to me if they take out this week's lows. All the charts are very overbought so a dip or consolidation wouldn't shock me.

Having said that, I don't know if I'd trade gold based solely on the technicals -- it's so tied to world & economic events/developments...