Since the 2011 highs, Gold futures have created a series of lower highs and lower lows inside of falling channel (1).

The rally since the lows in 2016 has Gold facing the top of its 8-year falling channel at (2). This test comes into play as resistance for Gold, something it has struggled with for years.

Gold bulls would receive a rare long-term bullish message if it can break out at (2)!

Is the 8-year drought in Gold about to end? Keep a close eye on how Gold handles this breakout test at (2) friends, as this is one of the more important price points in years for it!

If you would like to receive weekly updates on Gold, Silver, Copper and the Miners, our Metals Report is something you will benefit from.

 

 

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