The golden bullet is already loaded. Where is going to shot however is really uncertain.
The chart this time is extremely clear. There is a level that will give a definite (and IMO explosive) direction for the long term. 1295 , this is the magic number that will determin the fate of the shining metal. Will price go over the fatal resistance (in the graph red line) conferming the double bottom or will be rejected forming a triple top with devastating effects? In case the resistance will be smashed on the upside (be very careful with a false breakout should the price overtake the resistance and rapidly turning back) we will see easily 1310 then 1330 (with a medium target of 1370). If that will not be the case be prepared to short heavily as possibly the next target would sit around 1180 then 1120 (you have been adviced). Digging further we noticed that this time the price is approaching the resistance with somehow higher volumes then in the past and seasonality is right on the gold side. For this reasons we lean to the bullish hypothesis.
