If gold 0.48% breaks the 2011 trend, I think we could see $1480 by summer. There's no doubt going to be some choppiness as we test or break that trend.
Tip: Back out of the chart to see the fibo-fan resistance lines since 2015 (formed by 2011 highs). I think we'll play inside this triangle from 2017-2019.
This is my current gold fibo-fan chart. We're back to bull, but if the current upward fibo-level fails, we could see a return to 1221. My other ideas on DXY and UJ point to this possibility.
If this goes higher, I would target 1237 short-term (a Cypher pattern completed on 3/13, TP2 is 1237) Beyond that, I see the 1250 level a tough one to break for gold.
This is my best guess at the price action of gold over the next 4 months.
(breaks and we go to 1 on the weekly fibo-fan level - year end)
(bounces and we go back to the weekly 1.236 fibo-fan level - March 2017)