Chartology: "Gold’s Bearish Technical Setup"

Following up on "Gold Miners: A Fool And His Money (GDX; GDXJ; GLD)".

GMM made one of the more accurate Tesla calls using this pattern, link below
They don't work every time so it is more art than science but when they do come through the results can be very profitable.
Front futures down $9.90 on the day at $1271.20.
From Global Macro Monitor:

We noted last month gold’s head and shoulders formation, which, at 125o-ish was met with a massive short covering schnapper.  Last week’s strong GDP and employment data seems to have changed the sentiment and moving up tapering and higher rates.

The gold chart is thus setting up once again to test the 1250 level and triggering the an H&S reversal with a break of the neckline.   Stay tuned.

Tesla is changing hands at $137.20 down another $7.50 today and just above the collapse (from $194.23 Oct. 1) low of  $132.32 set on Nov. 8.

Here's Oct. 23's "Chartology: Tesla's Head and Shoulders Formation (TSLA)":
The stock is trading down $7.04 at $164.50.
From Global Macro Monitor:
Tesla’s Head & Shoulders Formation

Tesla (TSLA)  looks to close below its 50-day moving average today, the first close below its 50-day since March and its big move up (see chart)....MORE