I've been watching gold since 1280. It was either going to continue down to 1225, or break out to 1350. (I know, I know, the classic "it could go up OR down".) However, if gold breaks out, gold ETFs could rally big, which means large positions and safe moves (XGD, in Canada, has already broken out from $12.50 and could easily hit $16.00. Also confirmed by a very bullish Ichimoku signal and a golden cross moving average cross over). Wait until the weekly candle closes above 1360 to confirm a breakout to 1600. Be careful, as it could bounce off the reverse head and shoulders neckline and come back down to $1320, but at that point if would be a decent play (risk reward is good).
To me, this correlates with the sentiment of uncertainty in the market.
To me, this correlates with the sentiment of uncertainty in the market.