There's quite a similar pattern evolving in gold today to the 2009 summer pattern.
There were many attempts to break 1000$ at that time.
This time the key level is 1360. I think once we break 1360$ gold will print a strong rally up to 1450-1500 in 2-3 months.
The only question is she ready to run? Or we still need to visit 1236$ first.
In 2009 the last ICL was quite shallow as accumulation didn't let gold to print a decent ICL. We might have the same situation.
Look what happened once we broke 988 in 2009:
Actually today's pattern much bigger than the 2009 pattern:
There were many attempts to break 1000$ at that time.
This time the key level is 1360. I think once we break 1360$ gold will print a strong rally up to 1450-1500 in 2-3 months.
The only question is she ready to run? Or we still need to visit 1236$ first.
In 2009 the last ICL was quite shallow as accumulation didn't let gold to print a decent ICL. We might have the same situation.
Look what happened once we broke 988 in 2009:
Actually today's pattern much bigger than the 2009 pattern:
