Gold Price Structure Analysis

COMEX:GC1!   Gold Futures
60 2 2
Studying gold             price behaviour, the weekly graph attached is what I see. Price is contained in a channel.

On weekly price looks to have headed right into resistance. It could pop over it and continue but I think here it would be a good odds trade for some puts.

In any case, there will be a nice gold             shorting opportunity once price reaches the upper resistance line of the descending channel . Could happen before summer, but I think short term US dollar             will rebound pushing gold             lower - and then if the world avoids a depression this year, US dollar             will decline and gold             should soar.
Looking at dollar index divided by gold.

Below is weekly view zoomed out:

Below is weekly view zoomed in to the last few years:

Looks bullish I guess, would mean US dollar rebounds and gold drops ... a reversal could be in the works in the next few weeks or so.
Here is gold on a daily chart.
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