is gold a goner

There is no guarantee that recognised market patterns will work every time.

We do know that they do reoccur on a regular basis.

One regular pattern, I call the 911 pattern, because it played out to perfection in 2001 and culminated with the aftermath of the 911 attack.

It didn't need some inside knowledge to be short, just being a student of market behaviour.

OK so here it is on XJO in 2001.

Now have a look a current gold behaviour.

Is it a slam dunk? NO, but if recent lows are taken out, it might get nasty.

And by the way, 65 week sma (red dotted line) has been a powerful demarcation ever since 2001.