Stock charts courtesy of StockCharts.com.
Underlying gold trader positions along a 30 year timeline indicate futures traders are adjusting their positions at a faster pace than what occurred between October 1999 and April 2001. The falling wedge formation shown above provides an illustration that a long term low is near. The decline discussed on February 6, 2021 is still expected to occur and should be brief, as it was on February 16, 2001, prior to moving significantly higher over the long term.