I believe gold is in a strong new bull trend since the start of 2016. We have seen some very strong price action coming up, showing a relatively clear pattern of 5 legs in each up move. Everything in between looks very corrective. It seems like gold is now in the process of tracing a 4th wave on a large scale, preparing the ground to move higher.
A break out above the down down sloping green line is a first sign that a breakout is coming!