Open trading account 
Spot GoldThe chart above shows the trajectory for gold prices since they stated higher in 2001. There's the peak in 2011 with a perfect Tweezers Top and the initial rapid decent that began in 2013. Since mid 2013, the price has been more subdued, falling in a steady channel for over 2 years. Clearly the price action points lower.What makes it interesting is that with November nearly over, Friday's price action made an intraday move to new 5-and-a-half-year lows. It is also outside of that falling channel to the downside. Gold can still recover and finish the month back in the channel and then rebound in December, keeping the steady pace path in tact. But a close under 1045 could spell an acceleration lower for gold prices. In that case the prior consolidation and 61.8% retracement area around 900 seems a lock.
