RE:RE:RE:What is going on?Yes on the pennant - have a look at the one year POG chart in USD ... classic.
The one caution is a pennant is an uncertainty pattern, while it generally resolves towards a continuation of the longer trend (here - up!) it can snap down in which case the prior trend may be reversed.
How on earth gold would get slammed down without the USD strengthening and forcing a disaster rate rise is beyond me. And while speculators and dark economic agencies of government may want to pour cold water on a hot gold market, they can’t hold back the tide, they can just knock it back and slow momenyptum for a while, which will only build forward potential into the market as I see it.
Ugly day. Might be best to go do something else entertaining and let the marginal traders have their fun. Watching is definitely not great entertainment today?
cg