Is the Gold Market in error?

Uncommon Wisdom insists that the Gold Market has to correct before gold can go higher. Why? If we look at the closing prices for gold, we can discern reverse heads and shoulder patterns three times - going back to July/Aug of 2009.The second such pattern showed up in Feb 2010 and the third such pattern is playing out now.

We learn some more as we examine this last correction. The downward spike was as deep as the other times (perhaps a bit deeper) and so was the extent of oversold condition (shown in the top graph). The 200DMA remains pretty steady (i.e. a straight line) indicating the the Gold Market has yet to approach the final, parabolic stage. Can gold drop back and form yet another shoulder on its way up? Possible, but in either case, gold is heading up. Silver has already broken out to new highs and gold will soon follow. Current events and comig events and the QEII will eventually force gold to new highs.