I’ve been speculating about this chart pattern for some time now (massive wedge breakout, apex backtest, rounded bottom, ‘hot zone, $1410 region breakout). The symmetry and chartology is perfect. Each element is working to confirm the direction (up). That hugely important bull market support line was tested and held successfully. The wedge breakout was tested at the same time and resulted in the most perfect apex hit you’ll ever see. On top of all of that we have a perfect 6 year rounded base (perfectly positioned at the major cyclical low point), allowing a steady build of market energy and forces which, I believe, will launch gold prices through the hot zone and clear above $1410 in the next 6 months (probably much sooner). At that point gold stocks will be on fire.

That’s how I believe things will unfold, but for the sake of completeness – a break below the $1220 area means it’s time to give up. Come on gold, you can do it…