A close above the first horizontal red line would be very encouraging; a close above the second red line – that is, a close above .053 – would be decisive, unless it immediately reversed and closed back below it.

A closer look:

This would be the final linchpin and would almost certainly mean a Bull Market in gold that would last for years with technically based upside targets between $2,400 and $3,300.

Personally, with what I see happening in the “United” States – culturally, politically and certainly financially – those targets may well prove far too conservative.