Gold bullish! Next target $1,320

FX:XAUUSD   Gold Spot / U.S. Dollar
164 0 7
After 3 weeks consolidating within a pennant Gold             broke out of it last Thursday.
Another triangle has been forming since last Friday´s high at $1,280 and again Gold             broke out of it to the upside.
Next targets are $1,300 and 1,320.
Only below $1,245 and especially below $1,212 the bears are back in play...

Don't short this baby bull since there are really no signals for an immediate trend change at all - no matte how overbought it seems to be! The trend is your friend until it breaks.
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