The attached chart is from last week showing a fractal comparison between the price action we are seeing now and the last IC Low in July/Aug. While my cycle count is muddled here due to the price wedge, the fractal comparison to July/Aug timeframe shows how gold consolidated after that IC low and what happened once price moved to the upside of the wedge.

If this is also and IC Low consolidation, my expectations are that we will see a similar new IC bounce up towards 1125-1145 before topping out. Any move higher would break some important resistance lines.

Screen Shot 2016-01-04 at 9.17.45 AM