I noticed any article from a strictly Gold site tends to focus on bullish articles and studies and leaves out the negative aspects of those studies. I read this article of Ross Clark's work on Dec 19th and he elaborated more on the negative possibilities. That being price on previous similar markets. On a couple of these examples he pointed out that price could rally up to 1700 and another one at 1800 roughly and sell off hard to perhaps a 50% retracment of the bull market and gave examples of previous times that Gold typically does selloff fast and hard. He also said in 2012 price could selloff to $1400to $1500 by spring after a bounce up. And in 2012 you could also see Gold have a major selloff like it always does in a bull market all the way down to $1090 to $1240 which wouldn't be out of the ordinary. Notice the Gold site article never mentioned that aspect of Ross Clark's study of previous trends. That's the only thing with Gold sites. They always focus on the bullish side of Gold and omit the bearish possibilities. I have read many times that if readers or subscribers to a Gold site ever read anything bearish about Gold they will flip out and cancel their subscriptions and not read the site anymore. Even the original Gold Bug Jim Dines admitted to that more than once.
Regardless here is a 15 minute chart of the Gold stock ETF:GDX. I put on all the Pivot points for the last 8 days to view as well. Price must breakout or breakdown of this 8 day channel between $53.20 resistance or $51.53 support to determine the next tradable direction. I exited my last position within the channel as I'm going to wait now for a breakout or breakdown. Getting tired of baby sitting this damn thing in and out. With a breakdown the bear Gold stock ETF:DUST is a good one to trade too.