charting 101 .. gold at the brink of historical flat triangle breakout.. if succeeds the target of the breakout is between 1650$-1700$
as stock markets signaling an end of the long bull trend since 2011.. gold would be the safe haven as it was in 2000 and 2008-2011 stock market collapse era..
Peter Brandt has the same exact target ..check his post https://www.peterlbrandt.com/gold-resistance/?utm_content=buffer1496b&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
I will start buying below 1300 progressively (THIS IS NOT A TRADING ADVICE)
needs to test the triangle bottom around 1290 $ next week
Get the feeling we might get to the neckline and fall back - so will be playing that as initial set up in next few months if we drop and bounce on the rising support around 1300. Reasons being expected short term main market weakness this year (= dollar strength) will likely hold gold in check for now...though with Trump et al also wanting a weak dollar it is only a matter of time before gold has its day. I would go in a for short term around 1300 but take some risk off the table at the neckline and then only go back in above or if it drops and bounces hard on the rising trendline going back to Dec 2015. In the most bearish scenario Gold might have to revisit 1040 or even 800s in next few years (before it has its time to shine in the sun) but that is not my main set-up