Gold is testing a key inflection point that could determine where it is months and months from now!
Gold has created a series of lower highs over the past 8-years just below line (A). The rally over the past 4-months has gold testing the underside of this falling resistance line as well as the underside of line (B) at the same time.
Gold looks to be facing a historical kiss of resistance at (1), with momentum at lofty levels.
Gold bulls would love to see it breakout at (1)!!! If it would breakout at (1), look for Silver and miners to go along with it. Historically this looks to be a very important price point for the metals sector.
It patterns in Gold, Silver and the miners are important to you, check out our Metals report that specializes in the metals complex.