Aug Gold stayed in a tight Flag pattern for days and yesterday poked its head above the major 3 year uptrendline it broke down from in May. That didn't last long and pulled back into its Flag yesterday. Today price is collapsing down below $1616 support and is failing to breakout. Very typical price action for this time of year. Historically the seasonal pattern is for a major low in the summer months (June-July-Aug) followed by a return to an uptrend in the fall.