Feb Gold broke its 5 month uptrendline Tuesday and has remained in a very tight pattern just under the uptrendline which is now serving as resistance. Important price support and the line in the sand is the early Nov low of $1680. A break below $1680 combined with the lower Nov rally high would suggest a selloff to at least the Fib 61.8% retracement point at about $1638 if not further down. Gold needs to re-clear the broken uptrendline much like SPX did recently to be bullish again. The 20ema just crossed below the 50ema for the 1st time since August as well. And lower technicals are weak. Gold is at the critical point of the price pattern now and with the tight pattern of the last 4 days expect a sharp move out of this pattern. As the good book says "After small bars comes big bars." Many markets are treading water and looking for a trigger to move one way or the other.