Gold bugs haven't had it this bad since the Clinton administration.
Bullion just notched its seventh straight week of losses, which is gold's longest weekly losing streak since 1999. And even though gold rose slightly Friday, a trader who relies heavily on the technicals believes the breakdown is about to get a lot worse.
"Gold is in a clear downtrend, but we've seen it consolidate of late," Andrew Keene said Friday on CNBC's "Trading Nation." Gold prices have been bouncing in a tight trading range of $1,080 on the low end and $1,100 on the high end for the past two weeks.