Current uptrend with higher lows but stable resistance might be a strong buildup before expected bigger brakeout.
Geopolitical situation in the world with messy and fresh issues are in favor of higher gold prices. It will probably very rapid, 1370-1380 resistance test but I'm thinking about more rapid way just through it and then way to all time highs are opened but might take rest of the year.
Strong geopolitical news is necessary. Although it won't be anything positive for overall market.
@Spokoze, What's your thoughts? :) More sideways action or are we going to finally brake out of this formation (if correctly identified)?
Spokoze
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@Saeglopur, Looking for big moves up, maybe one as quick as this week, but more likely after the 4th of July. Watching Italian banks.....as crazy as that may sound. $1380 breaks and we're straight to $1450, then $1525, then 1680.....remember there were huge straight down moves in 2013 that will provide no resistance moves up these days...
Saeglopur
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@Spokoze, My exact thoughts! So we are on the same boat, I also think that if we will brake out of current situation there can be a massive rally towards all time heights because as you said: there are no big resistance points.