chartwatchers
Long

GOLD rally - part 2.

FX:XAUUSD   Gold Spot / U.S. Dollar
495 3 18
After the successfull breakout of the pennant price almost tested back the upper trendline of the pennant last Friday.
The breakout should go at least to the 2014 July intermediate high (1345) It is also very close to the target we can count from the pennant's height (highlighted by green). If the rally is strong enough we might test the 2014 March intermediate high. (1394)

Please see my OIL             - De Ja Vu chart....
The situation very similar...
The 2nd part is just starting , should be as long as the first part of the rally , or even longer.

Watch MACD and TSI crossover ,,,

DON'T TRY TO SHORT IT ! YOU CAN LOOSE EVERYTHING !
Gold is crazy !
I'm 100 % sure that it's a new bull market...
We are in the initial phase, which is always the strongest part of the bull.
The price simply cannot fall.
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This looks good, we should run above 1300 at least.
But I prefer the intermediate highs as target, because a lot of people are watching them.
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