After an initial surge early in the year, gold prices have been stuck in a sideways range. But one trader expects the metal to see a sharp move in the next few weeks.
"I think that the floor for gold is gone and it's just waiting for that push to get us to a technical breakdown," technical analyst Todd Gordon said on CNBC's "Trading Nation." "We want to be short gold."
Gordon noted that on a long-term, monthly basis, gold has been trading along uptrend support. "We had touch points on that trend-line in 2002, 2003, 2004 and again in 2005," said Gordon. "But most recently we've come back to support and rather than move higher, we've quietly snuck below it."