is GOLD ready to breakout?

TVC:GOLD   CFDs on Gold (US$ / OZ)
110 0
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.
Aug 28
Comment: Off we go!
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