Time will tell if this post ages better than the HS chart I posted earlier this week. But I just can’t shake the bearish vibes just yet. It just seems Gold has been breaking and checking major levels as it goes…is this another example? The HS NL in Gold previously shown is basically from the support of the 2015 uptrend line, albeit a bit sloppy…but frankly most gold tops are a pain in the ass to chart in the beginning. Was this last pop just another check of a rail before it says good bye just like it did to the important 1310 level?

There’s also a possible HS in GDX that looks interesting in it’s current configuration. Get GDX over 21.50 and this scenario will be dead for the time being.