The bogus inverted head & shoulders pattern refuses to go away as it is still showing up out there in support of bullish analysis. Again, gold may indeed break out near term (I have my doubts for all the reasons harped at recently - think US Treasuries first and foremost), but it won't be from an inverted H&S. There is no prior down trend for this would-be reversal pattern to reverse from. So there is no inverted H&S.Get over it.
The weekly EMA 75 shown on the chart has been supportive for the life of the bull market. We will look for support there once again if there is a downside reaction.
