Inflection point…
$XAU is between two important S/R lines on the chart. The solid blue line marks the bottom rail of the consolidation pattern that was home to $XAU for 18 months – until it broke down it broke down last August and built out the impressive double bottom. $XAU is testing the solid blue line from below.
The dashed blue line marks the double bottom hump that should offer support. One might expect a retest of a Double Bottom at the DB hump.