Gold is on an important support level measured in a few ways around $1580 as I posted. This tight price pattern is either bottoming and about to breakout on the upside on some b.s. fabricated European story "OR" it really is a Bear Flag. One could make that technical argument with the Flagpole straight down and the consolidation Flag. With this much support I suspect it is not a bear Flag not that it cares what I suspect. But either way the breakout of it should typically be strong and fast one way or the other. Would not want to be on the wrong side of the break as it would be costly. And price could drop down to the next support area and then rebound like it did in the fall of 2008. And there is plenty of evidence economically of the similarities of 2008 and now. So best to either straddle it or strangle it with options or wait for the break and chase it. I am waiting for one or perhaps two more days for a buy signal that 'should be' close by on the Gold stock ETF:GDX myself. Just need a little more proof of an upside move next. Trying to be patient as impatience can be expensive.