The “Power of the Pattern” was reflecting in the 3-pack below that Gold looked to be creating a repeating pattern that was critical to key sectors in the past.  

At the same time Gold looked to be creating a repeating pattern, it was hitting a Fibonacci resistance point (61%), where if history was any guide, Gold would pick up downside momentum very quickly(see post here)

This situation was presenting two opportunities…For those that remained long, harvest/sell.  For those looking to score on defense, this was a great time to establish short positions, since Gold could fall apart per this repeating pattern.


Many blog viewers have been writing in asking where will Gold/Silver could find support.  See below for some key multi-year support levels.


7 days ago the “Power of the Pattern” brought up the idea that Gold could fall as much as $500 per ounce(See Could Gold lose 500 bucks here)  At the time the above 3-pack was created, Gold was trading at $1,740 per ounce.  The above 2-pack reflects key multi-year support levels that could come into play. 

Bounces have to take place along the way, especially when Gold has declined almost $200/10% in a matter of days!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past