This is a play on the long-term uptrend in gold , best encapsulated by the 30 degree going back to the turn of the millennium, continuing. 1380 is a major ; it previously served as resistance over the prior 6 years. If the market pulls back to 1380, such a strong level may hold, and if the upward is valid, a retest of the 2011 resistance near 1780 may be valid. Of course, given the timeframes discussed here, patience is needed.
See the full analysis: https://www.cfdtrading.com/the-case-for-a-long-term-buy-of-gold-at-1380-usd/1392/