It appears that technical analysis could be telling us something that few in the gold market want to see.

A head & shoulders pattern doesn’t mean with 100% certainty that the price will fall, but with most of the precious metals “love” focusing on the silver market (e.g. poor man’s gold) these days, it wouldn’t surprise me if the chartists and momentum traders moved on to something with a little more juice for the short term.

Longer term, a weakening U.S. Dollar theme presumably means the precious metals market still has the green light.

Image Source & Credit
Chris Kimble
KimbleChartingSolutions.com
Gold… Potential bearish pattern at hand?