Gold and Silver Index $XAU

Larry Pesavento:  ‘Since December 2010 when the Gold and Silver index $XAU made a 3 drive to a top pattern, an interesting set of patterns has unfolded.   One of the most popular and accurate of all the patterns is the AB=CD pattern, also know as the Thunderbolt.  Three times this pattern has indicted a lower top in the downtrend of 2011.  It is now at the 4th lower top as we enter the last week of January 2012.   Remember that pattern recognition is not an exact methodology, but is a probability based approach that must be used with sound money management techniques and risk control measures.’