On this weekly chart... GOLD
is shown to be in an uptrend (higher highs, higher lows) YTD. The last higher low was made at a well tested support/resistance
zone (light orange rectangle
). Personally, I would wait for a breakout of the down trend line
in place since its high in 2011 before going long, i.e. wait for a confirmation. If GOLD
does break out, the measured move target is 1550.