Technically speaking, gold's indicators (except MACD) have all...

Technically speaking, gold's indicators (except MACD) have all now moved to neutral-to-negative on my weekly charts, which I use to assess longer-term moves. In order for Twiggs' pattern to play out, gold would now have to move to being more oversold than it was during last year's historic correction.

Also, moving that low would imply greater technical weakness than last year's move did, as the sell-off would imply technical weakness severe enough to invalidate the entire gold bull market.

Twiggs is not making a normal call here - he's making a reputation making/breaking call. If gold bounces off support anywhere between here and $700, how will he explain it?