Highroller got me Thinking with his chart tonite which I tweaked.

Rambus put out a piece called “What IF Gold has a Drop Dead Line?”

He spotted this Head and Shoulder Pattern on the Gold Monthly

Then in a recent piece he showed why the rally from The low 1040 last year stopped where it did

Combining these two Ideas We get this Very Simple Chart AND VERY SIMPLE CONCLUSIONS

1…A Definitive Breakout above 1300 is VERY BULLISH

2…A Definitive Breakdown below 1100 is VERY BEARISH

3…A BREAKOUT OR BREAKDOWN IS COMMING IN 2017

4…PASS THE POPCORN