Gold             is breaking the final frontier of a multi-year pennant . It is now nestled below trendline resistance and the weekly 200MA.

Could this just be a false move?

Unfortunately for the Gold             bulls, Gold             has to contend with a a very bullish USD. Unless the USD is going to make a move to the downside, I cannot see Gold             making ANY serious upside traction.

And my conclusion?

Projecting a MEASURED MOVE – that is, the top of the 2016 range to the low corner of the pennant – the current trendline break takes us to……..

$900

Yes. That’s right. I’m short Gold             until it reaches 900. I believe we’re about to see the slaughter of the last die-hard bulls, and for Gold             to enter stale long liquidation.

I’m short, and will add on ANY significant rallies below 1280.

But…. I have titled this chart The Penultimate Act. You’ll notice I have some green marked on the chart. $900 will be the low to BUY…