EvanJones
Long

Gold nearly ready to breakout

FX:XAUUSD   Gold Spot / U.S. Dollar
172 1 3
Gold             in recent weeks has been given the safe haven treatment and this has caused at the moment a slight retracement into the overall downtrend.

Could Gold             begin to turn on this idea and head for the 1300-1400 region? Keep on eye for a close above the current trendline which it is currently trying to break. I would add to my longs to the upper trendline and then assess what happens when this scenario approaches.

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snapshot


Just a quick update, Gold has been on a rampant bullish streak these last two weeks, which means that my indicators are indicating a short term reversal is expected. I'm expecting a test of the lower trend line in the attached link/chart before a resumption in the bullish trend
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